International Assets Investment Management LLC Buys Shares of 21,892 United Microelectronics Co. (NYSE:UMC)

International Assets Investment Management LLC bought a new stake in shares of United Microelectronics Co. (NYSE:UMC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 21,892 shares of the semiconductor company’s stock, valued at approximately $184,000.

Several other hedge funds have also bought and sold shares of UMC. Marshall Wace LLP lifted its position in United Microelectronics by 682.1% during the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP lifted its holdings in shares of United Microelectronics by 81.7% in the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock worth $33,983,000 after acquiring an additional 1,744,721 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of United Microelectronics by 114.4% in the 2nd quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock worth $3,849,000 after acquiring an additional 234,606 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of United Microelectronics by 6,339.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company’s stock worth $1,160,000 after acquiring an additional 135,668 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of United Microelectronics by 22.6% in the 3rd quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock worth $5,572,000 after acquiring an additional 121,919 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

United Microelectronics Trading Up 0.9 %

NYSE:UMC opened at $7.02 on Thursday. The company has a fifty day moving average of $8.11 and a 200 day moving average of $8.25. United Microelectronics Co. has a 52 week low of $6.78 and a 52 week high of $9.00. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $17.59 billion, a P/E ratio of 10.80, a P/E/G ratio of 3.42 and a beta of 1.20.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UMC shares. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a report on Thursday, October 17th. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics 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.