Advisors Asset Management Inc. Acquires 63,528 Shares of United Microelectronics Co. (NYSE:UMC)

Advisors Asset Management Inc. lifted its holdings in United Microelectronics Co. (NYSE:UMC) by 60.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,462 shares of the semiconductor company’s stock after purchasing an additional 63,528 shares during the quarter. Advisors Asset Management Inc.’s holdings in United Microelectronics were worth $1,427,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UMC. Tidal Investments LLC lifted its position in United Microelectronics by 135.6% during the 1st quarter. Tidal Investments LLC now owns 25,540 shares of the semiconductor company’s stock worth $207,000 after buying an additional 14,700 shares in the last quarter. Cetera Advisors LLC bought a new stake in United Microelectronics during the first quarter worth about $234,000. EverSource Wealth Advisors LLC boosted its position in United Microelectronics by 25.9% during the first quarter. EverSource Wealth Advisors LLC now owns 17,649 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 3,628 shares during the last quarter. Aprio Wealth Management LLC bought a new position in United Microelectronics in the second quarter valued at approximately $95,000. Finally, Genesis Investment Management LLP increased its position in shares of 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 worth $33,983,000 after purchasing an additional 1,744,721 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

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

United Microelectronics Price Performance

NYSE:UMC opened at $6.87 on Tuesday. The firm’s fifty day moving average price is $7.70 and its two-hundred day moving average price is $8.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The company has a market cap of $17.22 billion, a P/E ratio of 10.57, a P/E/G ratio of 3.32 and a beta of 1.20. United Microelectronics Co. has a one year low of $6.71 and a one year high of $9.00.

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.