When a stock hits a fresh low, it can either signal a dirt cheap dream stock or a dreadful stock to avoid. Separating the wheat from the chaff is difficult, but finding well-run companies at bargain-basement prices is a great way to accumulate a fortune over the long run.

With that in mind, we'll use the aggregate intelligence of the 110,000-plus investors participating in Motley Fool CAPS to see what the community is saying about stocks hitting 52-week lows today. The community's approval (as signified by four- and five-star ratings) could be a sign that further research is in order.

Here are three such stocks:

 

Today’s Low

Industry

CAPS Rating (out of 5)

Fools Saying Outperform

Immersion Corp (NASDAQ:IMMR)

$5.76

Computer Hardware

*****

967 of 991

AT&T, Inc. (NYSE:T)

$29.72

Telecommunication

****

3,562 of 3,783

Toyota Motor Corp (ADR) (NYSE:TM)

$82.08

Automotive

****

2,834 of 2,994

Source: Motley Fool CAPS, as of Aug. 4, 2008.

Five-Star Computer Hardware Companies

EMC Corp (NYSE:EMC) -- stock price is 21.2% cheaper than last year.
Secure Computing Corp (NYSE:SCUR) -- stock price is 49.8% cheaper than last year.

Four- and Five-Star Automotive Companies

Honda Motor Co., Ltd. (ADR) (NYSE:HMC) -- stock price is 10.4% cheaper in the past year.
Wonder Auto Technology, Inc. (NYSE:WATG) -- up 28.7% in the past year.

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Fool analyst Dan Dzombak does not have a financial position in any of the stocks mentioned in this article. Wonder Auto Technology is a Motley Fool Global Gains pick. Immersion is a Motley Fool Rule Breakers recommendation. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.