5 Cheap Growth Stocks to Buy Today

3. United Microelectronics Corporation (NYSE:UMC)

Number of Hedge Fund Holders: 13

Real-Time Share Price as of December 12: $11.33  

United Microelectronics Corporation (NYSE:UMC) owns and runs a semiconductor wafer foundry. Global semiconductor sales have been steadily climbing as the world becomes more reliant on electronics devices. United Microelectronics stands to benefit from this shift to digital.

On December 6, United Microelectronics Corporation (NYSE:UMC) announced sales numbers for the month of November, reporting that net sales over the period had reached NT$19.6 billion, up more than 33% year-on-year. 

At the end of the third quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $151 million in United Microelectronics Corporation (NYSE:UMC), up from 10 in the preceding quarter worth $141 million.