Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in United Microelectronics Co. (NYSE:UMC)

Connor Clark & Lunn Investment Management Ltd. bought a new position in United Microelectronics Co. (NYSE:UMC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 39,507 shares of the semiconductor company’s stock, valued at approximately $333,000.

Several other large investors have also recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after buying an additional 4,577,177 shares during the period. Genesis Investment Management LLP grew its holdings in United Microelectronics by 12.2% during the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after acquiring an additional 474,004 shares during the last quarter. Creative Planning increased its position in United Microelectronics by 22.6% in the 3rd quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock valued at $5,572,000 after acquiring an additional 121,919 shares during the period. Acadian Asset Management LLC raised its stake in shares of United Microelectronics by 114.4% during the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after acquiring an additional 234,606 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of United Microelectronics by 12.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 301,574 shares of the semiconductor company’s stock worth $2,641,000 after purchasing an additional 34,431 shares during the period. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UMC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a report on Thursday, October 17th. Finally, Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $6.75 on Friday. The business has a 50-day moving average price of $7.56 and a two-hundred day moving average price of $8.13. United Microelectronics Co. has a 1-year low of $6.63 and a 1-year high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.92 billion, a P/E ratio of 10.38, a PEG ratio of 3.24 and a beta of 1.20.

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.