5 Undervalued Semiconductor Stocks To Buy Now

4. United Microelectronics Corporation (NYSE:UMC)

PE Ratio (TTM) as of April 14: 7.41

Number of Hedge Fund Holders: 18

United Microelectronics Corporation (NYSE:UMC) operates as a semiconductor wafer foundry in Taiwan. The company has operations across the globe. United Microelectronics Corporation (NYSE:UMC) is one of the best undervalued semiconductor stocks to buy now according to hedge funds and is trading at a PE multiple of 7x, as of April 14.

This March, Daiwa analyst Rick Hsu upgraded United Microelectronics Corporation (NYSE:UMC) to Buy from Outperform and raised his price target on the stock to NT$62 from NT$48. As of April 14, the stock has gained 41.15% over the past 6 months.

At the end of the fourth quarter of 2022, 18 hedge funds were bullish on United Microelectronics Corporation (NYSE:UMC) and held collective positions worth $213.5 million in the company. Of those, D E Shaw was the top stockholder in the company and held a stake worth $22.2 million.

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