Assetmark Inc. Purchases New Shares in United Microelectronics Co. (NYSE:UMC)

Assetmark Inc. bought a new position in shares of United Microelectronics Co. (NYSE:UMC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,432 shares of the semiconductor company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also modified their holdings of UMC. GAMMA Investing LLC grew its position 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 position in United Microelectronics in the 3rd quarter valued at $84,000. Aprio Wealth Management LLC bought a new stake in shares of United Microelectronics during the 2nd quarter valued at $95,000. Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics during the 2nd quarter valued at $103,000. Finally, Cherrydale Wealth Management LLC acquired a new stake in shares of United Microelectronics during the 3rd quarter worth $104,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on UMC shares. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday. Morgan Stanley downgraded shares of 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. Finally, The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Up 2.4 %

Shares of NYSE UMC opened at $6.95 on Tuesday. The stock has a 50-day moving average price of $7.90 and a two-hundred day moving average price of $8.22. United Microelectronics Co. has a 12 month low of $6.78 and a 12 month 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 $17.40 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 3.28 and a beta of 1.20.

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.