Barclays PLC Has $27 Million Stock Position in United Microelectronics Co. (NYSE:UMC)

Barclays PLC lifted its holdings in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,205,930 shares of the semiconductor company's stock after purchasing an additional 240,380 shares during the quarter. Barclays PLC owned 0.13% of United Microelectronics worth $26,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMC. Groupama Asset Managment acquired a new position in United Microelectronics in the 3rd quarter valued at $238,000. MML Investors Services LLC acquired a new position in United Microelectronics in the third quarter valued at about $86,000. XTX Topco Ltd acquired a new position in United Microelectronics in the third quarter valued at about $1,915,000. Two Sigma Advisers LP lifted its position in United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company's stock worth $10,774,000 after purchasing an additional 970,600 shares during the period. Finally, State Street Corp grew its stake in United Microelectronics by 1.5% during the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company's stock worth $30,831,000 after buying an additional 53,105 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group downgraded shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price target for the company. in a report on Thursday, October 17th. JPMorgan Chase & Co. downgraded United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. Morgan Stanley cut United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. Finally, StockNews.com lowered United Microelectronics from a "buy" rating to a "hold" rating in a research note on Sunday, November 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE UMC traded down $0.01 during midday trading on Friday, reaching $6.39. 15,107,327 shares of the company were exchanged, compared to its average volume of 9,857,409. United Microelectronics Co. has a one year low of $6.31 and a one year high of $9.00. The stock has a market cap of $16.01 billion, a P/E ratio of 9.83, a PEG ratio of 3.09 and a beta of 1.17. 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 stock's 50-day moving average price is $7.19 and its 200-day moving average price is $8.01.

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.