Investors with an interest in Electronics - Semiconductors stocks have likely encountered both Silicon Motion (SIMO Quick QuoteSIMO - Free Report) and Lattice Semiconductor (LSCC Quick QuoteLSCC - 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 proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Right now, Silicon Motion is sporting a Zacks Rank of #2 (Buy), while Lattice Semiconductor has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that SIMO likely has seen a stronger improvement to its earnings outlook than LSCC has recently. But this is just one piece of the puzzle for value investors.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their 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.

SIMO currently has a forward P/E ratio of 9.90, while LSCC has a forward P/E of 20.14. We also note that SIMO has a PEG ratio of 1.41. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. LSCC currently has a PEG ratio of 2.01.

Another notable valuation metric for SIMO is its P/B ratio of 2.08. 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, LSCC has a P/B of 5.71.

Based on these metrics and many more, SIMO holds a Value grade of B, while LSCC has a Value grade of F.

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