Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.One stock to keep an eye on is SMART Global Holdings, Inc. (SGH). SGH is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 9.52. This compares to its industry's average Forward P/E of 20.76. SGH's Forward P/E has been as high as 14.73 and as low as 7.05, with a median of 9.62, all within the past year.We should also highlight that SGH has a P/B ratio of 4.67. 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. SGH's current P/B looks attractive when compared to its industry's average P/B of 9.95. Within the past 52 weeks, SGH's P/B has been as high as 5.42 and as low as 2.04, with a median of 3.44.Finally, investors should note that SGH has a P/CF ratio of 19.97. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. SGH's P/CF compares to its industry's average P/CF of 27.22. Within the past 12 months, SGH's P/CF has been as high as 25.67 and as low as 12.80, with a median of 17.35.These are just a handful of the figures considered in SMART Global Holdings, Inc.'s great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that SGH is an impressive value stock right now. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SMART Global Holdings, Inc. (SGH): Free Stock Analysis Report To read this article on Zacks.com click here.