Cerity Partners LLC Purchases 112,624 Shares of United Microelectronics Co. (NYSE:UMC)

Cerity Partners LLC raised its position in United Microelectronics Co. (NYSE:UMC - Free Report) by 90.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 237,027 shares of the semiconductor company's stock after buying an additional 112,624 shares during the period. Cerity Partners LLC's holdings in United Microelectronics were worth $1,996,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of United Microelectronics by 60.0% during the third quarter. Advisors Asset Management Inc. now owns 169,462 shares of the semiconductor company's stock worth $1,427,000 after purchasing an additional 63,528 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in United Microelectronics in the third quarter valued at about $333,000. West Family Investments Inc. increased its holdings in shares of United Microelectronics by 7.0% in the third quarter. West Family Investments Inc. now owns 141,661 shares of the semiconductor company's stock worth $1,193,000 after acquiring an additional 9,294 shares in the last quarter. Natixis Advisors LLC lifted its position in United Microelectronics by 12.8% in the 3rd quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company's stock valued at $1,531,000 after acquiring an additional 20,656 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in United Microelectronics during the 3rd quarter worth about $169,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Stock Performance

Shares of United Microelectronics stock traded up $0.08 during mid-day trading on Monday, hitting $6.83. 13,127,575 shares of the stock were exchanged, compared to its average volume of 10,286,380. United Microelectronics Co. has a 12 month low of $6.63 and a 12 month high of $9.00. The company has a 50-day simple moving average of $7.53 and a 200 day simple moving average of $8.12. The company has a market capitalization of $17.10 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

Wall Street Analyst Weigh In

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

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.