Groupama Asset Managment Takes $238,000 Position in United Microelectronics Co. (NYSE:UMC)

Groupama Asset Managment bought a new position in shares of United Microelectronics Co. (NYSE:UMC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,254 shares of the semiconductor company’s stock, valued at approximately $238,000.

Several other large investors also recently bought and sold shares of UMC. Marshall Wace LLP boosted its stake in shares of United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after buying an additional 4,577,177 shares during the period. Two Sigma Advisers LP raised its holdings in United Microelectronics by 314.1% in the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after acquiring an additional 970,600 shares in the last quarter. Genesis Investment Management LLP lifted its stake in United Microelectronics by 12.2% in the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after acquiring an additional 474,004 shares during the last quarter. Acadian Asset Management LLC grew its holdings in United Microelectronics by 114.4% during the 2nd quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock worth $3,849,000 after acquiring an additional 234,606 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of United Microelectronics in the 3rd quarter valued at approximately $1,915,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on UMC. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, 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. 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, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Performance

NYSE UMC opened at $6.70 on Tuesday. The company has a fifty day moving average of $7.33 and a two-hundred day moving average of $8.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. United Microelectronics Co. has a 1 year low of $6.54 and a 1 year high of $9.00. The company has a market capitalization of $16.78 billion, a PE ratio of 10.30, a P/E/G ratio of 3.25 and a beta of 1.17.

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.