Investors interested in Semiconductor - Analog and Mixed stocks are likely familiar with Magnachip (MX Quick QuoteMX - Free Report) and M/A-Com (MTSI Quick QuoteMTSI - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

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 Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Right now, Magnachip is sporting a Zacks Rank of #2 (Buy), while M/A-Com has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that MX likely has seen a stronger improvement to its earnings outlook than MTSI has recently. But this is just one factor that value investors are interested in.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

MX currently has a forward P/E ratio of 16.98, while MTSI has a forward P/E of 26.89. We also note that MX has a PEG ratio of 0.63. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MTSI currently has a PEG ratio of 0.67.

Another notable valuation metric for MX is its P/B ratio of 2.01. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, MTSI has a P/B of 10.20.

These are just a few of the metrics contributing to MX's Value grade of B and MTSI's Value grade of C.

MX stands above MTSI thanks to its solid earnings outlook, and based on these valuation figures, we also feel that MX is the superior value option right now.