Allspring Global Investments Holdings LLC Has $1.16 Million Stake in United Microelectronics Co. (NYSE:UMC)

Allspring Global Investments Holdings LLC grew its position in United Microelectronics Co. (NYSE:UMC) by 6,339.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,808 shares of the semiconductor company’s stock after buying an additional 135,668 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Microelectronics were worth $1,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP increased its position in United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after acquiring an additional 4,577,177 shares during the period. Genesis Investment Management LLP raised its position in United Microelectronics by 81.7% during the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock worth $33,983,000 after purchasing an additional 1,744,721 shares during the last quarter. Vanguard Group Inc. grew its position in shares of United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after buying an additional 434,018 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of United Microelectronics by 114.4% in the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after buying an additional 234,606 shares during the period. Finally, Creative Planning increased its stake in shares of United Microelectronics by 22.6% in the third quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock valued at $5,572,000 after buying an additional 121,919 shares during the period. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

NYSE UMC opened at $6.84 on Friday. United Microelectronics Co. has a 1 year low of $6.78 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The stock has a market capitalization of $17.14 billion, a PE ratio of 10.21, a P/E/G ratio of 4.12 and a beta of 1.18. The company’s 50 day simple moving average is $8.24 and its two-hundred day simple moving average is $8.26.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Analysts predict that United Microelectronics Co. will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UMC. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.40.

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.