Townsquare Capital LLC Invests $146,000 in United Microelectronics Co. (NYSE:UMC)

Townsquare Capital LLC bought a new stake in United Microelectronics Co. (NYSE:UMC) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,367 shares of the semiconductor company’s stock, valued at approximately $146,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after acquiring an additional 4,577,177 shares during the period. Genesis Investment Management LLP raised its position in United Microelectronics by 12.2% in the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after purchasing an additional 474,004 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in United Microelectronics by 16.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,186,187 shares of the semiconductor company’s stock worth $9,988,000 after purchasing an additional 168,399 shares during the period. Creative Planning grew its position in United Microelectronics by 22.6% during the 3rd quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock worth $5,572,000 after purchasing an additional 121,919 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in United Microelectronics by 114.4% in the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after purchasing an additional 234,606 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UMC. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a report on Thursday, October 17th. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. 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 cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Performance

NYSE UMC opened at $6.72 on Friday. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.26 and a beta of 1.17. The business’s 50 day moving average is $7.37 and its two-hundred day moving average is $8.08. United Microelectronics Co. has a 12-month low of $6.54 and a 12-month high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

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.