JPMorgan Chase & Co. Boosts Stake in United Microelectronics Co. (NYSE:UMC)

JPMorgan Chase & Co. lifted its holdings in United Microelectronics Co. (NYSE:UMC) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 806,000 shares of the semiconductor company’s stock after purchasing 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 & Exchange Commission.

Other large investors also recently bought and sold shares of the company. DGS Capital Management LLC increased its position in shares of United Microelectronics by 2.7% in the third quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 2,712 shares in the last quarter. Synovus Financial Corp purchased a new stake in United Microelectronics in the 3rd quarter worth $89,000. Tidal Investments LLC raised its position in United Microelectronics by 110.6% during the third quarter. Tidal Investments LLC now owns 115,287 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 60,533 shares during the period. Chiron Investment Management LLC purchased a new position in United Microelectronics during the third quarter valued at $755,000. Finally, Barclays PLC grew its position 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. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UMC shares. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research report on Thursday, October 17th. Finally, StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Up 0.6 %

UMC opened at $6.34 on Thursday. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The company’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $7.66. United Microelectronics Co. has a 1-year low of $6.09 and a 1-year high of $9.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

United Microelectronics Company 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.