Top 5 Tech Stocks You'll Regret Missing In Q2

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Corsair Gaming, Inc. CRSR

• Corsair Gaming reported better-than-expected first-quarter financial results and issued FY23 guidance. Andy Paul, Chief Executive Officer of Corsair, stated, “We are off to a strong start to 2023 with a 33% improvement in adjusted EBITDA compared to the year ago period.” The company’s stock has a 52-week low of $10.96 .
• RSI Value: 28.97
• CRSR Price Action: Shares of Corsair Gaming fell 0.5% to close at $17.18 on Thursday.

Intevac, Inc. IVAC

• Intevac reported appointment of Houlihan Lokey to evaluate strategic options. It has a 52-week low of $3.60.
• RSI Value: 25.22
• IVAC Price Action: Shares of Intevac fell 1.3% to close at $3.80 on Thursday.

SolarEdge Technologies, Inc. SEDG

• SolarEdge reported strong first-quarter results. "We are pleased with our first quarter results reflecting our strong global presence and execution capabilities," said Zvi Lando, Chief Executive Officer of SolarEdge. The company’s stock has a 52-week low of $190.15.
• RSI Value: 25.81
• SEDG Price Action: Shares of SolarEdge Technologies fell 2.9% to close at $244.57 on Thursday.

SkyWater Technology, Inc. SKYT

• SkyWater Technology posted a lower-than-expected quarterly loss. "We are pleased to report a strong start to 2023, as we set another record for quarterly revenues," commented Thomas Sonderman, SkyWater president and chief executive officer. The company’s 52-week low is $5.74.
• RSI Value: 29.41
• SKYT Price Action: Shares of SkyWater Technology fell 4% to close at $8.49 on Thursday.

Methode Electronics, Inc. MEI

• Methode Electronics reported mixed fourth-quarter results. President and Chief Executive Officer Donald W. Duda said, "Methode had strong sales in the quarter led by our lighting and power distribution solutions, and our EV application sales set another record. Material cost inflation continues to significantly challenge our margins, but we were still able to deliver strong free cash flow." The company has a 52-week low of $33.62.
• RSI Value: 21.92
• MEI Price Action: Shares of Methode Electronics fell 9.3% to close at $34.04 on Thursday.

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