5 Cheap Hot Stocks to Buy Now

3. Amkor Technology, Inc. (NASDAQ:AMKR)

PE Ratio as of January 6: 7.77

Performance (Q4 2022): 37.30%

Number of Hedge Fund Holders: 24

Amkor Technology, Inc. (NASDAQ:AMKR) is a global leader in semiconductor packaging and testing. In addition to being one of the best cheap hot stocks to buy now, Amkor Technology, Inc. (NASDAQ:AMKR) is also one of the best cheap semiconductor stock to buy now. As of January 6, the stock is trading at a PE multiple of 7x. Amkor Technology, Inc. (NASDAQ:AMKR) posted gains of over 37% in the fourth quarter of 2022.

Amkor Technology, Inc. (NASDAQ:AMKR) is the only growth stock that made it to the best cheap hot stocks to buy now. The stock’s attractive valuation and dividend yield justify its inclusion. Moreover, the company has a strong financial position and has an FCF of $171.5 million. As of January 6, the stock is offering a forward dividend yield of 1.25%.

At the end of Q3 2022, 24 elite money managers were eager on Amkor Technology, Inc. (NASDAQ:AMKR) and held collective stakes worth $118 million in the company. Of those, SW Investment Management was the largest shareholder in the company and held a position worth $51 million.