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Do you consider yourself a value investor, always looking for underestimated and potentially undervalued names? For a closer look at some potentially undervalued stocks, we ran a screen.

We began by screening the tech sector for stocks that appear undervalued relative to earnings growth, with PEG below 1.

We then screened for those stocks with strong sales trends, comparing growth in revenue to growth in accounts receivable. Since accounts receivable is the portion of revenue not yet received, and there is no guarantee the money will ever be received, the smaller the portion of revenue made up of receivables the healthier the company's revenue.

We screened for stocks seeing faster growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a smaller portion of current assets over the same time period.

Interactive Chart: Press Play to compare changes in market cap over the last two years for six of the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks should be trading higher? Use this list as a starting point for your own analysis.

List sorted by increase in revenue over the last year.

1. Portugal Telecom SGPS SA (PT): Provides telecommunications services in Portugal, Brazil, and Africa. Market cap at $4.98B, most recent closing price at $5.42. PEG at 0.42. Revenue grew by 82.27% during the most recent quarter ($1,731M vs. $949.69M y/y). Accounts receivable grew by -43.41% during the same time period ($1,936.3M vs. $3,421.67M y/y). Receivables, as a percentage of current assets, decreased from 38.64% to 20.65% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

2. Silicon Motion Technology Corp. (SIMO): Operates as a fabless semiconductor company. Market cap at $446.66M, most recent closing price at $14.0. PEG at 0.68. Revenue grew by 66.74% during the most recent quarter ($2,031.84M vs. $1,218.6M y/y). Accounts receivable grew by 46.11% during the same time period ($1,157.38M vs. $792.11M y/y). Receivables, as a percentage of current assets, decreased from 23.23% to 21.29% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

3. Telecom Argentina S.A. (TEO): Provides fixed-line telecommunication services and other related services in Argentina. Market cap at $2.68B, most recent closing price at $13.42. PEG at 0.44. Revenue grew by 22.5% during the most recent quarter ($5,139M vs. $4,195M y/y). Accounts receivable grew by 0.39% during the same time period ($1,790M vs. $1,783M y/y). Receivables, as a percentage of current assets, decreased from 49.34% to 32.97% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

4. OSI Systems, Inc. (OSIS): Designs, manufactures, and sells specialized electronic systems and components for applications in homeland security, healthcare, defense, and aerospace markets worldwide. Market cap at $1.29B, most recent closing price at $64.63. PEG at 0.86. Revenue grew by 19.16% during the most recent quarter ($208.44M vs. $174.93M y/y). Accounts receivable grew by 12.41% during the same time period ($157.83M vs. $140.4M y/y). Receivables, as a percentage of current assets, decreased from 37.75% to 32.48% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

5. OYO Geospace Corp. (OYOG): Engages in designing and manufacturing instruments and equipments used in the acquisition and processing of seismic data; and in the characterization and monitoring of producing oil and gas reservoirs. Market cap at $709.3M, most recent closing price at $109.70. PEG at 0.57. Revenue grew by 10.91% during the most recent quarter ($56.23M vs. $50.7M y/y). Accounts receivable grew by -6.05% during the same time period ($35.86M vs. $38.17M y/y). Receivables, as a percentage of current assets, decreased from 29.4% to 21.97% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

6. Jabil Circuit Inc. (JBL): Provides electronic manufacturing services and solutions in the Americas, Europe, and Asia. Market cap at $4.38B, most recent closing price at $20.79. PEG at 0.78. Revenue grew by 7.83% during the most recent quarter ($4,236.17M vs. $3,928.66M y/y). Accounts receivable grew by 3.95% during the same time period ($1,132.69M vs. $1,089.69M y/y). Receivables, as a percentage of current assets, decreased from 22.83% to 22.15% during the most recent quarter (comparing 3 months ending 2012-02-29 to 3 months ending 2011-02-28).

7. DDI Corp. (DDIC): Provides printed circuit board engineering and manufacturing services primarily in North America. Market cap at $266.4M, most recent closing price at $12.96. PEG at 0.79. Revenue grew by 3.69% during the most recent quarter ($68.91M vs. $66.46M y/y). Accounts receivable grew by -1.91% during the same time period ($43.12M vs. $43.96M y/y). Receivables, as a percentage of current assets, decreased from 47.55% to 43.28% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

8. Multi-Fineline Electronix Inc. (MFLX): Engages in the engineering, design, and manufacture of flexible printed circuit boards and related component assemblies for the electronics industry. Market cap at $583.54M, most recent closing price at $23.99. PEG at 0.79. Revenue grew by 0.43% during the most recent quarter ($207.96M vs. $207.07M y/y). Accounts receivable grew by -11.46% during the same time period ($137.08M vs. $154.82M y/y). Receivables, as a percentage of current assets, decreased from 45.98% to 36.45% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 8 Undervalued Tech Stocks With Strong Receivable Trends