International Assets Investment Management LLC Acquires New Holdings in United Microelectronics Corporation $UMC

International Assets Investment Management LLC bought a new position in shares of United Microelectronics Corporation (NYSE:UMC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,277 shares of the semiconductor company’s stock, valued at approximately $815,000.

Several other institutional investors and hedge funds have also bought and sold shares of UMC. Canopy Partners LLC increased its stake in United Microelectronics by 3.4% in the 3rd quarter. Canopy Partners LLC now owns 27,022 shares of the semiconductor company’s stock worth $662,000 after acquiring an additional 879 shares during the last quarter. Founders Financial Securities LLC bought a new stake in shares of United Microelectronics during the 3rd quarter valued at about $1,719,000. Interchange Capital Partners LLC bought a new stake in shares of United Microelectronics during the 3rd quarter valued at about $216,000. Leo Wealth LLC purchased a new position in shares of United Microelectronics during the third quarter worth about $260,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of United Microelectronics by 27.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,313 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 720 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Down 2.3%

Shares of NYSE UMC opened at $16.02 on Thursday. United Microelectronics Corporation has a one year low of $6.97 and a one year high of $28.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.27 and a quick ratio of 2.75. The firm’s 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $17.13. The stock has a market capitalization of $40.34 billion, a P/E ratio of 15.19, a PEG ratio of 0.43 and a beta of 1.76.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.33 billion. United Microelectronics had a return on equity of 20.12% and a net margin of 31.96%. As a group, analysts expect that United Microelectronics Corporation will post 1.23 EPS for the current fiscal year.

Analysts Set New Price Targets

UMC has been the topic of a number of recent analyst reports. Arete Research raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Monday, August 10th. Zacks Research cut shares of United Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Weiss Ratings cut shares of United Microelectronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, HSBC upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating and cut their target price for the stock from $37.42 to $33.76 in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, United Microelectronics presently has a consensus rating of “Reduce” and an average price target of $36.79.

About United Microelectronics

United Microelectronics Corp. (NYSE:UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by customers rather than marketing its own branded semiconductor products.

The company provides wafer fabrication services across a range of process technologies, with particular expertise in specialty applications such as display driver ICs, automotive semiconductors, connectivity products, image sensors, power management components and embedded memory.