United Microelectronics Co. (NYSE:UMC) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in shares of United Microelectronics Co. (NYSE:UMC) by 2.7% during the third quarter, Holdings Channel reports. 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.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of United Microelectronics in the first quarter valued at approximately $151,000. Acadian Asset Management LLC grew its position in shares of United Microelectronics by 1,105.0% in the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock valued at $1,659,000 after purchasing an additional 188,133 shares during the period. O Shaughnessy Asset Management LLC increased its stake in United Microelectronics by 4.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 353,626 shares of the semiconductor company’s stock valued at $2,861,000 after purchasing an additional 13,508 shares during the last quarter. Advisors Asset Management Inc. lifted its position in United Microelectronics by 67.0% during the first quarter. Advisors Asset Management Inc. now owns 80,899 shares of the semiconductor company’s stock worth $654,000 after buying an additional 32,469 shares during the period. Finally, Tidal Investments LLC boosted its stake in United Microelectronics by 135.6% in the 1st quarter. Tidal Investments LLC now owns 25,540 shares of the semiconductor company’s stock worth $207,000 after buying an additional 14,700 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Trading Down 2.6 %

NYSE UMC opened at $6.80 on Thursday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a one year low of $6.74 and a one year high of $9.00. The company’s 50 day moving average price is $7.84 and its 200 day moving average price is $8.21.

Analyst Upgrades and Downgrades

UMC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday. Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, United Microelectronics has a consensus rating of “Hold” and an average target price of $7.40.

About United Microelectronics

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.