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

US Bancorp DE lifted its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,954 shares of the semiconductor company’s stock after purchasing an additional 11,722 shares during the period. US Bancorp DE’s holdings in United Microelectronics were worth $1,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 3,242 shares during the period. Viking Fund Management LLC purchased a new stake in shares of United Microelectronics during the 3rd quarter worth approximately $84,000. Aprio Wealth Management LLC bought a new stake in shares of United Microelectronics in the 2nd quarter worth approximately $95,000. Simon Quick Advisors LLC purchased a new position in United Microelectronics in the second quarter valued at approximately $103,000. Finally, Cherrydale Wealth Management LLC bought a new position in United Microelectronics during the third quarter valued at $104,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Performance

Shares of UMC opened at $7.24 on Friday. United Microelectronics Co. has a 52-week low of $6.78 and a 52-week high of $9.00. The stock’s 50-day simple moving average is $8.08 and its 200 day simple moving average is $8.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 3.42 and a beta of 1.20.

Analyst Upgrades and Downgrades

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

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.