US Bancorp DE Purchases 11,722 Shares of United Microelectronics Co. (NYSE:UMC)

US Bancorp DE increased its holdings in United Microelectronics Co. (NYSE:UMC) by 7.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 162,954 shares of the semiconductor company’s stock after acquiring an additional 11,722 shares during the quarter. US Bancorp DE’s holdings in United Microelectronics were worth $1,372,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. raised its holdings in shares of United Microelectronics by 2.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 178,086 shares of the semiconductor company’s stock valued at $1,499,000 after acquiring an additional 4,545 shares in the last quarter. Ballentine Partners LLC raised its stake in United Microelectronics by 21.7% in the third quarter. Ballentine Partners LLC now owns 132,780 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 23,699 shares in the last quarter. International Assets Investment Management LLC bought a new stake in United Microelectronics during the third quarter valued at approximately $184,000. Waldron Private Wealth LLC grew its stake in United Microelectronics by 55.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 23,963 shares of the semiconductor company’s stock worth $202,000 after buying an additional 8,500 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in United Microelectronics by 1.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 103,907 shares of the semiconductor company’s stock worth $875,000 after buying an additional 1,701 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

UMC has been the topic of several research reports. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a report on Thursday, October 17th. Finally, StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, United Microelectronics presently has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $7.24 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. The stock has a market cap of $18.14 billion, a PE ratio of 11.14, a PEG ratio of 3.42 and a beta of 1.20. The company’s fifty day moving average is $8.08 and its 200 day moving average is $8.24. United Microelectronics Co. has a 52 week low of $6.78 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.