Top Oversold Tech Stocks You Might Want to Consider Buying

Identifying undervalued companies in the tech sector can provide savvy investors with valuable buying opportunities.

The Relative Strength Index (RSI) serves as a momentum indicator, measuring how a stock performs on days it increases versus days it falls. When a stock’s RSI dips below 30, it is generally considered oversold. This can offer traders insights into potential short-term performance, according to data from Benzinga Pro.

Here is a rundown of notable oversold stocks in the technology sector, each exhibiting an RSI around or below 30.

Ingram Micro Holding Corp INGM

• On November 20, JP Morgan analyst Samik Chatterjee began coverage of Ingram Micro, assigning it a Neutral rating and a price target of $28. Recently, the company’s stock has dropped about 8%, hitting a 52-week low of $21.84.
• RSI Value: 24.61
• INGM Price Action: The shares closed at $21.89, down 0.1% on Wednesday.
• Real-time alerts from Benzinga Pro highlighted recent news concerning INGM.

Qorvo Inc QRVO

• Loop Capital analyst Gary Mobley started coverage on Qorvo on November 11, issuing a Hold rating and a price target of $73. The stock has plummeted around 36% in the past month, reaching a 52-week low of $64.98.
• RSI Value: 18.70
• QRVO Price Action: Shares closed at $65.66 on Wednesday.
• Benzinga Pro helped track the downward trend in QRVO stock.

Monolithic Power Systems Inc MPWR

Loop Capital analyst Gary Mobley upgraded Monolithic Power from Hold to Buy on November 18, keeping the price target at $660. Recently, this company has seen its stock drop approximately 37% over the previous month, with a 52-week low of $538.00.

RSI Value: 19.26

MPWR Price Action: Shares ended the day at $560.06 on Wednesday.

Signals from Benzinga Pro indicated a potential breakout for MPWR shares.

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