Townsquare Capital LLC Buys Shares of 17,367 United Microelectronics Co. (NYSE:UMC)

Townsquare Capital LLC purchased a new position in shares of United Microelectronics Co. (NYSE:UMC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,367 shares of the semiconductor company’s stock, valued at approximately $146,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UMC. Assetmark Inc. acquired a new stake in United Microelectronics during the 3rd quarter worth approximately $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 3,242 shares in the last quarter. Viking Fund Management LLC purchased a new position in United Microelectronics in the third quarter valued at $84,000. Simon Quick Advisors LLC acquired a new position in United Microelectronics during the 2nd quarter worth $103,000. Finally, Cherrydale Wealth Management LLC purchased a new stake in United Microelectronics during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of UMC opened at $6.72 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 52-week low of $6.54 and a 52-week high of $9.00. The stock has a 50 day moving average price of $7.37 and a 200 day moving average price of $8.08. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UMC shares. 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 shares of 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. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Finally, JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

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.