Quantbot Technologies LP Purchases 130,809 Shares of United Microelectronics Co. (NYSE:UMC)

Quantbot Technologies LP raised its stake in United Microelectronics Co. (NYSE:UMC) by 398.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,657 shares of the semiconductor company’s stock after buying an additional 130,809 shares during the period. Quantbot Technologies LP’s holdings in United Microelectronics were worth $1,378,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in UMC. Assetmark Inc. bought a new stake in shares of United Microelectronics in the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its position in shares of United Microelectronics by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new stake in shares of United Microelectronics in the 3rd quarter valued at 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 Up 0.9 %

Shares of NYSE:UMC opened at $6.75 on Friday. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 3.24 and a beta of 1.20. 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 business’s 50-day moving average is $7.56 and its 200-day moving average is $8.13. United Microelectronics Co. has a 1 year low of $6.63 and a 1 year high of $9.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UMC shares. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. Morgan Stanley downgraded 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 research note on Sunday, November 17th. Finally, JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. 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 stock 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.