Quantbot Technologies LP Buys 130,809 Shares of United Microelectronics Co. (NYSE:UMC)

Quantbot Technologies LP raised its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 398.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,657 shares of the semiconductor company's stock after acquiring an additional 130,809 shares during the period. Quantbot Technologies LP's holdings in United Microelectronics were worth $1,378,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its stake in United Microelectronics by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 102,206 shares of the semiconductor company's stock worth $895,000 after purchasing an additional 1,333 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of United Microelectronics by 1.5% in the third quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company's stock valued at $760,000 after buying an additional 1,360 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in United Microelectronics by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company's stock worth $626,000 after buying an additional 1,756 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in United Microelectronics by 13.3% during the 2nd quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company's stock worth $137,000 after acquiring an additional 1,836 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in United Microelectronics by 3.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company's stock valued at $505,000 after acquiring an additional 1,865 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Trading Up 0.9 %

NYSE UMC traded up $0.06 on Friday, reaching $6.75. The company had a trading volume of 6,389,006 shares, compared to its average volume of 10,274,081. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 52 week low of $6.63 and a 52 week high of $9.00. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 3.24 and a beta of 1.20. The stock's 50 day moving average is $7.56 and its 200-day moving average is $8.13.

Analyst Ratings Changes

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