UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in United Microelectronics Co. (NYSE:UMC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of United Microelectronics Co. (NYSE:UMC) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 327,100 shares of the semiconductor company’s stock after purchasing an additional 12,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in United Microelectronics were worth $2,754,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of United Microelectronics by 96.0% in the third quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock worth $1,258,000 after buying an additional 73,202 shares during the period. Cerity Partners LLC increased its holdings in United Microelectronics by 90.5% in the 3rd quarter. Cerity Partners LLC now owns 237,027 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 112,624 shares in the last quarter. Blue Trust Inc. raised its stake in United Microelectronics by 136.1% during the 3rd quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock worth $1,592,000 after acquiring an additional 104,797 shares during the period. Quantbot Technologies LP lifted its holdings in United Microelectronics by 398.2% during the third quarter. Quantbot Technologies LP now owns 163,657 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 130,809 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in United Microelectronics during the second quarter valued at approximately $113,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UMC. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $6.39 on Friday. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 3.09 and a beta of 1.17. The firm has a fifty day moving average price of $7.19 and a 200 day moving average price of $8.01. United Microelectronics Co. has a fifty-two week low of $6.31 and a fifty-two week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, 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.