Harvest Fund Management Co. Ltd Invests $345,000 in United Microelectronics Co. (NYSE:UMC)

Harvest Fund Management Co. Ltd bought a new stake in United Microelectronics Co. (NYSE:UMC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,011 shares of the semiconductor company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. acquired a new position in shares of United Microelectronics during the 3rd quarter worth approximately $37,000. GAMMA Investing LLC lifted 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 valued at $57,000 after acquiring an additional 3,242 shares during the last quarter. Viking Fund Management LLC acquired a new position in shares of United Microelectronics during the 3rd quarter worth about $84,000. Aprio Wealth Management LLC bought a new stake in shares of United Microelectronics in the 2nd quarter valued at about $95,000. Finally, Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics in the 2nd quarter valued at about $103,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of NYSE UMC opened at $6.85 on Wednesday. United Microelectronics Co. has a one year low of $6.71 and a one year high of $9.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 3.32 and a beta of 1.20. The stock’s fifty day moving average price is $7.66 and its two-hundred day moving average price is $8.16.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.