While innovators have flourished this year thanks to artificial intelligence and other advancements, it may seem difficult to find the most undervalued tech stocks to buy in April. After all, the ecosystem has garnered so much attention that many companies command rich premiums.

However, the market features thousands of opportunities. And even specific sectors feature a wealth of possible ideas. It’s just not possible for Wall Street experts to cover them all. So, it’s definitely reasonable – with some digging around – to find underappreciated gems.

Of course, you’ll have to accept a higher risk profile. If you’re okay with that, these are the most undervalued tech stocks to buy in April.

Photronics (PLAB)

Listed under the semiconductor equipment and materials segment of the tech ecosystem, Photronics (NASDAQ:PLAB) engages in the manufacture and sale of photomask products and services in the U.S. and other countries. Per its public profile, the company offers photomasks that are used in the manufacture of integrated circuits (ICs) and flat-panel displays (FPDs). It also specializes in transferring circuit patterns onto semiconductor wafers.

While most of the spotlight centers on the “front-facing” semiconductor companies like Nvidia (NASDAQ:NVDA), investors should look into what goes on behind the scenes. Essentially, companies like Photronics keep the show running smoothly, making it a strong candidate for most undervalued tech stocks to buy in April.

Currently, PLAB stock trades at a trailing-year earnings multiple of 12.78X. Also, it trades at 1.95X trailing-year revenue. Both stats are undervalued compared to their sector median values. Further, analysts project that in fiscal 2024, Photronics should enjoy decent earnings and sales growth.

D.A. Davidson is currently the only analyst that covers PLAB stock, assigning a “buy” rating (but without a price target).

Himax Technologies (HIMX)

Another semiconductor enterprise, Himax Technologies (NASDAQ:HIMX) is a fabless semiconductor enterprise that provides display-imaging processing technologies in China, Taiwan and many other nations. The company operates in two segments: Driver IC and Non-Driver Products. Mainly, it focuses on display driver ICs and timing controllers used in televisions, laptops and automotive solutions, among many other applications.

Again, Himax isn’t exactly what you call a front-facing enterprise. However, it’s absolutely critical in the smooth running of the tech space, especially consumer electronics. Still, Wall Street isn’t exactly giving HIMX its dues. That means right now, shares trade at a trailing-year earnings multiple of 18.72X, below the sector median 32.8X.

On the top line, HIMX trades at only 0.98X trailing-year sales. That seems very low considering the broad relevancies. To be fair, analysts are only looking for earnings growth in fiscal 2024 while they anticipate negative growth in revenue. For top-line expansion, investors may have to wait until fiscal 2025.

Still, a lone analyst rates HIMX a buy with a $7 price target. That seems more reasonable based on the underlying utility. It’s one of the most undervalued tech stocks to buy in April.

ViaSat (VSAT)

Conducting business in the communication equipment space, ViaSat (NASDAQ:VSAT) provides broadband and communications products and services worldwide. According to its corporate profile, ViaSat’s Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses. It also offers in-flight entertainment and aviation software services to commercial airlines and private business jets.

Undoubtedly, VSAT is one of the riskiest ideas in terms of the most undervalued tech stocks to buy in April. Since the start of the year, shares succumbed to 41% worth of red ink. In the past one-year period, it’s down almost 52%. Still, if the economy happens to march forward, ViaSat could potentially see increased demand.

Here are the stats. Shares trade at a trailing-year earnings multiple of 2.18X. As for the revenue multiple, we’re talking about 0.45X. Both stats are subterranean compared to the industry. However, the intriguing aspect is that analysts see fiscal 2024 revenue landing at $4.22 billion, up 65.3% from last year’s print.

Also, they peg VSAT as a moderate buy with a $32.20 price target, implying 95% upside potential.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.