5 Cheap Growth Stocks to Buy Today

4. Pixelworks, Inc. (NASDAQ:PXLW)

Number of Hedge Fund Holders: 12    

Real-Time Share Price as of December 12: $4.70

Pixelworks, Inc. (NASDAQ:PXLW) markets semiconductor and software solutions. The firm stands to benefit from increased government spending and new tax breaks as Washington seeks to decrease American reliance on Chinese chip makers in the coming months and years. 

Needham analyst Rajvindra Gill recently initiated coverage of Pixelworks, Inc. (NASDAQ:PXLW) stock with a Buy rating and a price target of $7, underlining that the firm had room to grow over the next few months and could sign on tech giant Huawei as a customer. 

At the end of the third quarter of 2021, 12 hedge funds in the database of Insider Monkey held stakes worth $27 million in Pixelworks, Inc. (NASDAQ:PXLW), up from 10 in the previous quarter worth $9 million.