Acadian Asset Management LLC raised its holdings in shares of United Microelectronics Co. (NYSE:UMC – Free Report) by 114.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439,765 shares of the semiconductor company’s stock after acquiring an additional 234,606 shares during the quarter. Acadian Asset Management LLC’s holdings in United Microelectronics were worth $3,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of UMC. SpiderRock Advisors LLC purchased a new position in shares of United Microelectronics during the 1st quarter valued at about $86,000. Adero Partners LLC bought a new position in shares of United Microelectronics in the fourth quarter worth approximately $94,000. Leo Wealth LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth $95,000. Aprio Wealth Management LLC purchased a new stake in shares of United Microelectronics in the second quarter worth $95,000. Finally, Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics during the 2nd quarter valued at $103,000. Institutional investors own 5.05% of the company’s stock.
United Microelectronics Stock Performance
NYSE UMC opened at $8.63 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. United Microelectronics Co. has a 1-year low of $6.81 and a 1-year high of $9.00. The business has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $8.25. The stock has a market capitalization of $21.61 billion, a PE ratio of 12.32, a P/E/G ratio of 4.51 and a beta of 1.18.
Analysts Set New Price Targets
A number of brokerages have issued reports on UMC. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group raised United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday, August 1st.
Check Out Our Latest Stock Report on United Microelectronics
United Microelectronics Company Profile
United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.
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