As a rule of thumb, overlooked low-priced stocks are that way for a reason. And usually, that reason isn’t particularly a good one. Still, there are a few “cheap” enterprises that can give you more than you bargained for but in the accretive sense.

Simply put, there are thousands of publicly traded opportunities available. While analysts attempt to find the best ideas, they can’t give equal coverage to everyone. Invariably, then, some worthy businesses slip through the cracks.

While the below names might not be the most popular, they can pack a serious punch. With that, here are overlooked low-priced stocks to consider.

MagnaChip (MX)

Based in South Korea, MagnaChip (NYSE:MX) as you might imagine operates in the semiconductor sector. With its subsidiaries, the company designs, manufactures and supplies analog and mixed-signal semiconductor platform solutions for various industries. These include communications, the Internet of Things, consumer electronics, computers and automotive applications.

Financially, the company has demonstrated an ability to pare down its expected bottom-line losses. Between the second quarter of 2023 to Q1 2024, MagnaChip’s average quarterly beat came out to 61.58%. Over the trailing 12 months (TTM), the chipmaker’s net loss landed at $30.57 million on revenue of $222.11 million.

For fiscal 2024, experts anticipate the enterprise to post a loss per share of $1.15 on sales of $235.9 million. That’s a bit disappointing compared to last year’s results of a loss of 55 cents with a top line of $230 million.

However, fiscal 2025 revenue could rise to $288.6 million. If so, that would represent a 22.3% growth rate from projected ’24 sales. For that, MX could be one of the overlooked low-priced stocks.

Sibanye Stillwater (SBSW)

Falling under the basic materials space, Sibanye Stillwater (NYSE:SBSW) specializes in gold mining and other precious metals. Based in South Africa, Sibanye commands the advantage of operating in a resource-rich environment. Further, gold fundamentally looks intriguing. Central banks are buying. So is Michael Burry, the hedge fund manager made famous in the film, The Big Short.

However, what really makes SBSW one of the overlooked low-priced stocks to buy is the palladium business. One of the platinum group metals, palladium sees strong industrial usage, particularly for catalytic converters. Still, with the rise of electric vehicles, common wisdom dictated that palladium demand may decline with the fading out of combustion-powered vehicles.

That narrative might need a rethink. Recently, EV demand has fallen off, leading even legacy automakers to delay their transition plans. At the same time, hybrid vehicles – which utilize both combustion engines and battery packs – have seen their sales skyrocket.

Guess what? These vehicles use palladium because they need catalytic converters for emissions-related reasons. Thus, I anticipate big upside for SBSW stock eventually.

Applied Optoelectronics (AAOI)

Headquartered in Sugar Land, Texas, Applied Optoelectronics (NASDAQ:AAOI) falls under the communication equipment sector. Per its corporate profile, Applied designs, manufactures and sells fiber-optic networking products in the U.S., Taiwan and China. It offers various products, including optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, among many others.

Financially, the company tends to be somewhat lumpy with its performances. For example, in Q1 2024, Applied posted a loss per share of 31 cents against an expected loss of 29 cents. On the other hand, in Q2 of last year, it posted a loss of 21 cents against an expected loss of 28 cents. In the TTM period, Applied incurred a net loss of $62.93 million on revenue of $205.29 million.

Right now, the company’s quarterly revenue growth (year-over-year) sits at 23.3% below parity. However, analysts believe that by the end of this fiscal year, sales could rise to $272.21 million. That’s up 25.1% from last year. Further, fiscal 2025 revenue could hit $447.78 million, up 64.5% YOY. For the patient, AAOI could be one of the overlooked low-priced stocks to buy.

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.