5 Best Affordable Tech Stocks to Invest In Now

4. United Microelectronics Corporation (NYSE: UMC)

Price as of May 12, 2021: $8.30 per share
Number of Hedge Fund Holders: 12

United Microelectronics Corporation (NYSE: UMC) is a technology company that runs a semiconductor wafer foundry through its Wafer Fabrication and New Business segments.

The company has unveiled plans to expand 300mm Fab 12A Phase 6 (P6) production capacity, located in Taiwan’s Tainan Science Park. The company plans to undertake the project through a partnership that will bring together several of its customers worldwide. Under the agreement, the customers will make a deposit that guarantees their supply of chips, in the long run, using a pre-determined pricing model. In return, UMC will get the required funding to grow organically achieve its long-term objectives. 

The expanded plant is expected to start production in Q2 2023, and the company expects to invest a total of NT$100 billion.

United Microelectronics Corporation (NYSE: UMC) has also partnered with Sensirion, a leading microsensor manufacturer, to produce medical-related ICs to be used in the fight against the COVID-19 pandemic. Under this arrangement, UMC will be granted exclusive rights to produce Sensirion’s flow-sensors for medical ventilators and temperature sensor ICs for Covid-19 vaccine transport.