JPMorgan Chase & Co. Increases Stock Holdings in United Microelectronics Co. (NYSE:UMC)

JPMorgan Chase & Co. boosted its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 806,000 shares of the semiconductor company’s stock after buying an additional 53,264 shares during the period. JPMorgan Chase & Co.’s holdings in United Microelectronics were worth $6,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall Wace LLP grew its holdings in shares of 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 buying an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP lifted its position 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 period. State Street Corp grew its stake in United Microelectronics by 1.5% during the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock valued at $30,831,000 after purchasing an additional 53,105 shares during the last quarter. Barclays PLC increased its holdings in shares of United Microelectronics by 8.1% in the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after purchasing an additional 240,380 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of United Microelectronics by 314.1% in the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 970,600 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Up 0.6 %

Shares of UMC stock opened at $6.34 on Thursday. United Microelectronics Co. has a twelve month low of $6.09 and a twelve month high of $9.00. The stock has a market cap of $15.89 billion, a P/E ratio of 9.75, a P/E/G ratio of 3.09 and a beta of 1.17. The stock has a 50 day moving average of $6.66 and a 200 day moving average of $7.66. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

UMC has been the topic of a number of recent research 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 shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. The Goldman Sachs Group lowered 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 note 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.