Victory Capital Management Inc. Acquires 73,202 Shares of United Microelectronics Co. (NYSE:UMC)

Victory Capital Management Inc. grew its holdings in United Microelectronics Co. (NYSE:UMC) by 96.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,457 shares of the semiconductor company’s stock after purchasing an additional 73,202 shares during the quarter. Victory Capital Management Inc.’s holdings in United Microelectronics were worth $1,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Marshall Wace LLP grew its holdings in United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after purchasing an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP increased 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 valued at $33,983,000 after buying an additional 1,744,721 shares in the last quarter. Acadian Asset Management LLC raised its stake in 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 last quarter. Allspring Global Investments Holdings LLC boosted its holdings in United Microelectronics by 6,339.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company’s stock worth $1,160,000 after acquiring an additional 135,668 shares in the last quarter. Finally, Creative Planning boosted its holdings in United Microelectronics by 22.6% in the third quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock worth $5,572,000 after acquiring an additional 121,919 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Trading Down 0.3 %

NYSE UMC opened at $6.85 on Wednesday. United Microelectronics Co. has a 12 month low of $6.71 and a 12 month high of $9.00. The stock has a market capitalization of $17.17 billion, a P/E ratio of 10.54, a PEG ratio of 3.32 and a beta of 1.20. The firm’s 50-day moving average is $7.66 and its two-hundred day moving average is $8.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

Wall Street Analyst Weigh In

Several research firms have recently commented on UMC. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research report 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.