Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is Silicon Motion (SIMO Quick QuoteSIMO - Free Report) . SIMO is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 11.87 right now. For comparison, its industry sports an average P/E of 17.14. Over the past year, SIMO's Forward P/E has been as high as 20.78 and as low as 10.89, with a median of 13.20.

Finally, investors should note that SIMO has a P/CF ratio of 17.47. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 28.54. Within the past 12 months, SIMO's P/CF has been as high as 25.80 and as low as 11.94, with a median of 15.46.

Value investors will likely look at more than just these metrics, but the above data helps show that Silicon Motion is likely undervalued currently. And when considering the strength of its earnings outlook, SIMO sticks out at as one of the market's strongest value stocks.