Victory Capital Management Inc. Boosts Stock Position in United Microelectronics Co. (NYSE:UMC)

Victory Capital Management Inc. increased its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 96.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,457 shares of the semiconductor company's stock after acquiring an additional 73,202 shares during the quarter. Victory Capital Management Inc.'s holdings in United Microelectronics were worth $1,258,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Verus Capital Partners LLC acquired a new stake in United Microelectronics in the 3rd quarter valued at $497,000. Assetmark Inc. purchased a new stake in shares of United Microelectronics in the third quarter worth approximately $37,000. PDS Planning Inc lifted its holdings in shares of United Microelectronics by 4.5% in the third quarter. PDS Planning Inc now owns 54,827 shares of the semiconductor company's stock valued at $462,000 after purchasing an additional 2,374 shares in the last quarter. QRG Capital Management Inc. grew its holdings in United Microelectronics by 30.5% during the third quarter. QRG Capital Management Inc. now owns 66,771 shares of the semiconductor company's stock worth $562,000 after buying an additional 15,612 shares in the last quarter. Finally, US Bancorp DE raised its position in United Microelectronics by 7.8% in the 3rd quarter. US Bancorp DE now owns 162,954 shares of the semiconductor company's stock valued at $1,372,000 after buying an additional 11,722 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on UMC. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. StockNews.com cut United Microelectronics from a "buy" rating to a "hold" rating in a research report on Sunday, November 17th. The Goldman Sachs Group lowered shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price target for the company. in a research report on Thursday, October 17th. 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Stock Down 0.3 %

UMC stock opened at $6.85 on Wednesday. The stock has a fifty day moving average of $7.66 and a 200-day moving average of $8.16. United Microelectronics Co. has a fifty-two week low of $6.71 and a fifty-two week high of $9.00. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 3.32 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.

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.