United Microelectronics Co. (NYSE:UMC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. reduced its holdings in United Microelectronics Co. (NYSE:UMC) by 25.0% during the 2nd quarter, Holdings Channel reports. The firm owned 17,764 shares of the semiconductor company’s stock after selling 5,924 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in United Microelectronics were worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in UMC. JPMorgan Chase & Co. grew its stake in United Microelectronics by 117.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,604,207 shares of the semiconductor company’s stock valued at $14,631,000 after acquiring an additional 865,977 shares during the period. Raymond James & Associates boosted its holdings in United Microelectronics by 210.9% in the 1st quarter. Raymond James & Associates now owns 289,563 shares of the semiconductor company’s stock worth $2,641,000 after buying an additional 196,429 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in United Microelectronics by 12.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 56,596 shares of the semiconductor company’s stock worth $516,000 after buying an additional 6,274 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of United Microelectronics by 5.7% in the first quarter. PNC Financial Services Group Inc. now owns 41,532 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 2,233 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of United Microelectronics by 26.4% in the first quarter. Natixis Advisors L.P. now owns 68,427 shares of the semiconductor company’s stock worth $624,000 after acquiring an additional 14,293 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Stock Performance

NYSE UMC opened at $7.60 on Tuesday. The stock’s fifty day moving average is $7.19 and its two-hundred day moving average is $7.59. The firm has a market capitalization of $19.01 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 4.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.43 and a current ratio of 1.67. United Microelectronics Co. has a fifty-two week low of $6.26 and a fifty-two week high of $8.97.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UMC shares. The Goldman Sachs Group lifted their target price on shares of United Microelectronics from $8.40 to $10.20 and gave the stock a “buy” rating in a research note on Thursday, October 26th. StockNews.com initiated coverage on shares of United Microelectronics in a research report on Thursday, October 5th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.33.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.