Shares in Imagination Technologies (LSE: IMG) have risen by around 3% today after it announced additional cost cuts above and beyond those that were announced last month. It plans to cut its cost base by a further $18m per year through reducing its workforce by 200 staff and disposing of non-core units. This should provide the company with a more stable financial footing through which to operate its core activities.

The decision seems to be a sound move by Imagination Tech and it could provide it with a clearer path to profitability in the coming years. With its shares trading on a price-to-earnings-growth (PEG) ratio of just 0.8, it seems to be a relatively appealing buy for less risk-averse investors.

Good time to buy

Also reporting today within the technology, media and telecoms (TMT) space was Cello Group (LSE: CLL). Its shares have risen by 4% after its 2015 results showed a rise in pre-tax profit of 7.1% that has allowed the company to raise dividends by 10%. Furthermore, net debt was reduced from £7.2m in 2014 to £4.2m in 2015 and the company has apparently made a good start to 2016, with encouraging bookings momentum continuing from the final quarter of 2015.

Looking ahead, Cello is forecast to increase its bottom line by 3% this year and by a further 7% next year. This puts it on a PEG ratio of 1.4, which indicates that now could be a good time to buy it – especially since it yields 3.2% from a dividend which is covered nearly three times by profit.

Surprise price drop

Meanwhile, shares in media company Quarto (LSE: QRT) have fallen by 3% today despite it releasing an upbeat set of results for the 2015 financial year. For example, revenue increased by 6%, while pre-tax profit rose by 8%. This allowed the company to raise the final dividend by 15%, which means that it now yields 2.6% and that shareholder payouts are covered 3.4 times by profit. And with Quarto reducing net debt by 10% and delivering on its main strategic objectives, it appears to be moving in the right direction.

Today’s share price fall is most likely due to the announcement that its Chairman Tim Chadwick will step down. Despite this, Quarto’s forecasts are upbeat, with double-digit growth expected in each of the next two years. This puts the company on a PEG ratio of only 0.5, which indicates good value for money.

Shares set to rise?

Of course, one of the main players in the TMT space in the UK is ARM (LSE: ARM). It hasn’t reported today, but with its bottom line forecast to rise by 43% in the current year and by a further 13% next year, it appears to be on the cusp of improved share price performance.

Certainly, the slowdown in China has hurt investor sentiment in ARM, with its shares being down 2% since the turn of the year. However, with such a strong track record of growth and a highly appealing business model, it could easily reverse this period of poor performance and rise significantly over the medium-to-long term.

With ARM trading on a PEG ratio of 0.7, it continues to offer excellent value for money. That’s especially the case since it’s a relatively stable and mature business, thereby making its risk/reward ratio hugely enticing.

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Peter Stephens owns shares of ARM Holdings. The Motley Fool UK owns shares of Imagination Technologies. The Motley Fool UK has recommended ARM Holdings. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.