Ritholtz Wealth Management Sells 8,915 Shares of United Microelectronics Co. (NYSE:UMC)

Ritholtz Wealth Management lowered its holdings in United Microelectronics Co. (NYSE:UMC) by 8.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,757 shares of the semiconductor company’s stock after selling 8,915 shares during the quarter. Ritholtz Wealth Management’s holdings in United Microelectronics were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UMC. Assetmark Inc. acquired a new stake in shares of United Microelectronics during the 3rd quarter worth approximately $37,000. GAMMA Investing LLC grew its holdings in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC acquired a new stake in shares of United Microelectronics during the 3rd quarter worth approximately $84,000. MML Investors Services LLC acquired a new stake in shares of United Microelectronics during the 3rd quarter worth approximately $86,000. Finally, Synovus Financial Corp acquired a new stake in shares of United Microelectronics during the 3rd quarter worth approximately $89,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research report on Thursday, October 17th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Five 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, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Up 1.0 %

NYSE:UMC opened at $6.27 on Tuesday. United Microelectronics Co. has a 1 year low of $6.09 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 stock has a market cap of $15.72 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 3.00 and a beta of 1.17. The stock has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $7.60.

About United Microelectronics

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.