Moran Wealth Management LLC Trims Stake in United Microelectronics Co. (NYSE:UMC)

Moran Wealth Management LLC trimmed its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 701,800 shares of the semiconductor company’s stock after selling 19,108 shares during the quarter. Moran Wealth Management LLC’s holdings in United Microelectronics were worth $5,909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMC. Advisors Asset Management Inc. lifted its stake in 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 stake in United Microelectronics during the third quarter worth approximately $333,000. West Family Investments Inc. lifted its holdings in shares of United Microelectronics by 7.0% in the 3rd quarter. West Family Investments Inc. now owns 141,661 shares of the semiconductor company’s stock valued at $1,193,000 after purchasing an additional 9,294 shares during the last quarter. Natixis Advisors LLC grew its position in United Microelectronics by 12.8% during the 3rd quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company’s stock worth $1,531,000 after purchasing an additional 20,656 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of United Microelectronics in the third quarter valued at approximately $169,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Down 2.6 %

UMC opened at $6.80 on Thursday. United Microelectronics Co. has a one year low of $6.74 and a one year high of $9.00. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 3.38 and a beta of 1.20. The business’s fifty day moving average is $7.84 and its two-hundred day moving average is $8.21. 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 research analysts recently commented on the stock. Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research report on Thursday, October 17th. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday. Finally, JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, United Microelectronics has a consensus rating of “Hold” and a consensus price target of $7.40.

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.