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Interested in the high-growth prospects of the semiconductors industry? We ran a screen to dig deeper into this sphere.

We began by screening the semiconductors industry for stocks with strong liquidity, with current ratios above 3.

We then screened for stocks with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform in the future.

For an ‪interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

(click to enlarge)

Do you think these stocks will outperform like hedge funds expect? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. International Rectifier Corporation (NYSE:IRF): Engages in the design, manufacture, and marketing of power management semiconductors. Market cap at $1.02B, most recent closing price at $14.74. Current ratio at 4.46%. Net institutional purchases in the current quarter at 7.2M shares, which represents about 10.45% of the company's float of 68.91M shares.

2. IPG Photonics Corporation (NASDAQ:IPGP): Manufactures fiber lasers and amplifiers for use in a range of markets, such as materials processing, advanced technologies, telecommunications, and medical applications. Market cap at $2.85B, most recent closing price at $55.97. Current ratio at 5.45%. Net institutional purchases in the current quarter at 3.7M shares, which represents about 9.01% of the company's float of 41.05M shares.

3. Cavium, Inc. (NASDAQ:CAVM): Designs, develops, and markets semiconductor processors for intelligent and secure networks. Market cap at $1.58B, most recent closing price at $31.89. Current ratio at 3.28. Net institutional purchases in the current quarter at 4.3M shares, which represents about 8.88% of the company's float of 48.44M shares.

4. Lattice Semiconductor Corporation (NASDAQ:LSCC): Designs, develops, manufactures, and markets programmable logic products and related software. Market cap at $453.54M, most recent closing price at $3.89. Current ratio at 5.71%. Net institutional purchases in the current quarter at 8.7M shares, which represents about 8.22% of the company's float of 105.79M shares.

5. Cymer Inc. (NASDAQ:CYMI): Engages in the development, manufacture, and marketing of excimer light sources for the manufacturers of photolithography tools in the semiconductor equipment industry. Market cap at $2.42B, most recent closing price at $79.83. Current ratio at 4.38%. Net institutional purchases in the current quarter at 2.3M shares, which represents about 7.98% of the company's float of 28.84M shares.

6. MIPS Technologies Inc. (NASDAQ:MIPS): Provides industry-standard processor architectures and cores that power various home entertainment, communications, networking, and portable multimedia products. Market cap at $379.83M, most recent closing price at $7.05. Current ratio at 10.36%. Net institutional purchases in the current quarter at 2.7M shares, which represents about 5.9% of the company's float of 45.78M shares.

7. Power Integrations Inc. (NASDAQ:POWI): Designs, develops, manufactures, and markets proprietary, high-voltage, analog, and mixed-signal integrated circuits (ICS) in the United States and internationally. Market cap at $851.43M, most recent closing price at $29.06. Current ratio at 3.29. Net institutional purchases in the current quarter at 1.5M shares, which represents about 5.66% of the company's float of 26.52M shares.

8. Skyworks Solutions Inc. (NASDAQ:SWKS): Together with its subsidiaries, offers analog and mixed signal semiconductors worldwide. Market cap at $3.86B, most recent closing price at $19.82. Current ratio at 4.83. Net institutional purchases in the current quarter at 10.0M shares, which represents about 5.37% of the company's float of 186.28M shares.

9. Ultratech, Inc. (NASDAQ:UTEK): Develops, manufactures, and markets photolithography and laser thermal processing equipment. Market cap at $761.69M, most recent closing price at $28.35. Current ratio at 7.14. Net institutional purchases in the current quarter at 1.3M shares, which represents about 5.01% of the company's float of 25.94M shares.

Institutional data sourced from Fidelity. All other data sourced from Finviz.

Source: Hedge Funds Are Buying Up These 9 Highly Liquid Semiconductors Stocks