State Street Corp Purchases 53,105 Shares of United Microelectronics Co. (NYSE:UMC)

State Street Corp increased its position in United Microelectronics Co. (NYSE:UMC) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,661,624 shares of the semiconductor company’s stock after purchasing an additional 53,105 shares during the period. State Street Corp’s holdings in United Microelectronics were worth $30,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP grew its position in shares of United Microelectronics by 30.0% in the 3rd quarter. Quantinno Capital Management LP now owns 186,050 shares of the semiconductor company’s stock worth $1,567,000 after buying an additional 42,919 shares during the period. Verition Fund Management LLC purchased a new stake in United Microelectronics in the third quarter worth about $1,099,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of United Microelectronics by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 327,100 shares of the semiconductor company’s stock valued at $2,754,000 after purchasing an additional 12,100 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of United Microelectronics by 23.5% during the third quarter. Glenmede Trust Co. NA now owns 24,696 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 4,696 shares during the last quarter. Finally, Townsquare Capital LLC bought a new stake in shares of United Microelectronics in the 3rd quarter worth approximately $146,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

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

United Microelectronics Price Performance

UMC opened at $6.53 on Friday. The company’s 50-day simple moving average is $7.02 and its two-hundred day simple moving average is $7.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The stock has a market capitalization of $16.36 billion, a P/E ratio of 10.05, a P/E/G ratio of 3.09 and a beta of 1.17. United Microelectronics Co. has a 52-week low of $6.31 and a 52-week high of $9.00.

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.