International Assets Investment Management LLC Acquires Shares of 21,892 United Microelectronics Co. (NYSE:UMC)

International Assets Investment Management LLC acquired a new stake in shares of United Microelectronics Co. (NYSE:UMC) during the third quarter, HoldingsChannel reports. The fund acquired 21,892 shares of the semiconductor company’s stock, valued at approximately $184,000.

A number of other hedge funds have also added to or reduced their stakes in UMC. GAMMA Investing LLC increased its stake in shares of United Microelectronics by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 3,242 shares in the last quarter. Viking Fund Management LLC bought a new position in shares of United Microelectronics in the 3rd quarter worth about $84,000. Aprio Wealth Management LLC bought a new position in shares of United Microelectronics in the 2nd quarter worth about $95,000. Simon Quick Advisors LLC bought a new position in shares of United Microelectronics in the 2nd quarter worth about $103,000. Finally, Cherrydale Wealth Management LLC bought a new position in shares of United Microelectronics in the 3rd quarter worth about $104,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UMC. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research note on Thursday, October 17th. 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 lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Up 0.9 %

NYSE:UMC opened at $7.02 on Thursday. The firm has a market cap of $17.59 billion, a P/E ratio of 10.80, a P/E/G ratio of 3.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66. United Microelectronics Co. has a fifty-two week low of $6.78 and a fifty-two week high of $9.00. The firm has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $8.25.

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.