The U.S. Federal Reserve’s commitment to ease liquidity in the stock market since March did too good a job. The S&P 500 traded at all-time highs in recent sessions. The tech-heavy Nasdaq Composite Index trades at new highs almost daily. There are, however, cheap stocks to buy from a standard price-to-earnings metric. When asked about what metric to use to find undervalued metrics, we turned to Clinical Professor of Finance David Kass at the University of Maryland’s Robert H. Smith School of Business. The professor said in an email to InvestorPlace, “I would focus on the PEG ratio, or P/E ratio divided by the projected growth rate of earnings per share. The lower the PEG ratio, the more attractive (or undervalued) a stock is.” James Angel, associate professor of finance at Georgetown University’s McDonough School of Business said: … potential bargains can be found in stocks with low institutional ownership. Stocks with high institutional ownership have been chosen by large institutional investors and are likely to be fairly priced. Stocks with low institutional ownership are often smaller companies that are too small for the big players to mess with, so they may or may not be undervalued. These are seven cheap stocks to buy the cash-strapped investor may consider. ASE Technology Holding (NYSE:ASX) Teradata (NYSE:TDC) Himax Technologies (NASDAQ:HIMX) Ford Motor (NYSE:F) Micron Technology (NASDAQ:MU) Teva Pharmaceuticals (NYSE:TEVA) Newell Brands (NASDAQ:NWL) These cheap stocks to buy may or may not have low PEG. If they happen to have that, plus low institutional ownership, they are most probably inexpensive stocks.