Investors interested in Electronics - Miscellaneous Components stocks are likely familiar with Kyocera (KYOCY) and Universal Display Corp. (OLED). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Kyocera and Universal Display Corp. are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that KYOCY's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

KYOCY currently has a forward P/E ratio of 20.25, while OLED has a forward P/E of 37.76. We also note that KYOCY has a PEG ratio of 1.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OLED currently has a PEG ratio of 1.94.

Another notable valuation metric for KYOCY is its P/B ratio of 0.70. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, OLED has a P/B of 5.41.

Based on these metrics and many more, KYOCY holds a Value grade of A, while OLED has a Value grade of D.

KYOCY sticks out from OLED in both our Zacks Rank and Style Scores models, so value investors will likely feel that KYOCY is the better option right now.

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