Cerity Partners LLC Purchases 112,624 Shares of United Microelectronics Co. (NYSE:UMC)

Cerity Partners LLC boosted its position in shares of United Microelectronics Co. (NYSE:UMC) by 90.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 237,027 shares of the semiconductor company’s stock after purchasing an additional 112,624 shares during the period. Cerity Partners LLC’s holdings in United Microelectronics were worth $1,996,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMC. Assetmark Inc. acquired a new stake in shares of United Microelectronics during the third quarter worth approximately $37,000. GAMMA Investing LLC increased its holdings in United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC bought a new position in United Microelectronics in the 3rd quarter valued at $84,000. Aprio Wealth Management LLC acquired a new position in United Microelectronics in the second quarter worth $95,000. Finally, Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics during the second quarter worth $103,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

United Microelectronics Stock Performance

United Microelectronics stock opened at $6.75 on Monday. United Microelectronics Co. has a 1 year low of $6.63 and a 1 year high of $9.00. The company’s 50-day moving average is $7.56 and its two-hundred day moving average is $8.13. 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 PE ratio of 10.38, a PEG ratio of 3.27 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.