Advisors Asset Management Inc. Has $1.43 Million Stock Position in United Microelectronics Co. (NYSE:UMC)

Advisors Asset Management Inc. increased its position in shares of United Microelectronics Co. (NYSE:UMC) by 60.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,462 shares of the semiconductor company’s stock after acquiring an additional 63,528 shares during the quarter. Advisors Asset Management Inc.’s holdings in United Microelectronics were worth $1,427,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in United Microelectronics during the 3rd quarter valued at about $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC acquired a new position in United Microelectronics in the third quarter valued at approximately $84,000. Aprio Wealth Management LLC bought a new position in United Microelectronics in the second quarter valued at approximately $95,000. Finally, Simon Quick Advisors LLC acquired a new stake in United Microelectronics during the 2nd quarter worth $103,000. Institutional investors own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Up 0.3 %

United Microelectronics stock opened at $6.87 on Tuesday. United Microelectronics Co. has a twelve month low of $6.71 and a twelve month high of $9.00. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $7.70 and a 200-day moving average of $8.17. The stock has a market capitalization of $17.22 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20.

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.