59,000 Shares in United Microelectronics Co. (NYSE:UMC) Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC acquired a new stake in United Microelectronics Co. (NYSE:UMC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,000 shares of the semiconductor company’s stock, valued at approximately $497,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UMC. Mirae Asset Global Investments Co. Ltd. grew its stake in United Microelectronics by 35.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 9,071 shares during the period. SG Americas Securities LLC acquired a new stake in shares of United Microelectronics in the first quarter valued at about $151,000. US Bancorp DE increased its stake in shares of United Microelectronics by 2.2% during the first quarter. US Bancorp DE now owns 127,275 shares of the semiconductor company’s stock worth $1,030,000 after purchasing an additional 2,772 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of United Microelectronics by 1,105.0% during the 1st quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock worth $1,659,000 after purchasing an additional 188,133 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in United Microelectronics by 4.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 353,626 shares of the semiconductor company’s stock valued at $2,861,000 after buying an additional 13,508 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on UMC. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Price Performance

NYSE:UMC opened at $6.99 on Wednesday. The stock has a 50 day moving average price of $8.01 and a 200 day moving average price of $8.24. The stock has a market cap of $17.52 billion, a PE ratio of 10.75, a P/E/G ratio of 3.38 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 one year low of $6.78 and a one year high of $9.00.

United Microelectronics Company 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.