130,481 Shares in United Microelectronics Co. (NYSE:UMC) Purchased by Verition Fund Management LLC

Verition Fund Management LLC bought a new position in shares of United Microelectronics Co. (NYSE:UMC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 130,481 shares of the semiconductor company's stock, valued at approximately $1,099,000.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. acquired a new position in United Microelectronics during the 3rd quarter worth $37,000. GAMMA Investing LLC grew its stake in United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC bought a new stake in United Microelectronics in the third quarter valued at about $84,000. Simon Quick Advisors LLC acquired a new stake in United Microelectronics during the second quarter valued at approximately $103,000. Finally, Cherrydale Wealth Management LLC bought a new position in United Microelectronics during the 3rd quarter worth approximately $104,000. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Stock Performance

Shares of UMC traded down $0.02 during midday trading on Monday, hitting $6.70. 8,511,107 shares of the stock traded hands, compared to its average volume of 10,297,420. The business's 50 day moving average price is $7.33 and its two-hundred day moving average price is $8.06. The firm has a market capitalization of $16.78 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 3.25 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a 1-year low of $6.54 and a 1-year high of $9.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on UMC shares. The Goldman Sachs Group downgraded 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. lowered shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley downgraded shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a research report on Monday, October 28th. Finally, StockNews.com lowered shares of United Microelectronics from a "buy" rating to a "hold" rating in a report on Sunday, November 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, United Microelectronics presently has a consensus rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Company 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.