United Microelectronics Co. (NYSE:UMC) Stock Position Lowered by Genesis Investment Management LLP

Genesis Investment Management LLP trimmed its holdings in United Microelectronics Co. (NYSE:UMC) by 76.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009,031 shares of the semiconductor company’s stock after selling 3,344,294 shares during the period. United Microelectronics makes up 7.2% of Genesis Investment Management LLP’s investment portfolio, making the stock its 7th biggest holding. Genesis Investment Management LLP’s holdings in United Microelectronics were worth $6,549,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ignite Planners LLC lifted its holdings in shares of United Microelectronics by 1.5% in the third quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company’s stock worth $760,000 after buying an additional 1,360 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in United Microelectronics by 1.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 103,907 shares of the semiconductor company’s stock worth $875,000 after purchasing an additional 1,701 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in United Microelectronics by 20.3% in the 3rd quarter. Aprio Wealth Management LLC now owns 13,026 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 2,198 shares during the period. PDS Planning Inc grew its position in shares of United Microelectronics by 4.5% during the 3rd quarter. PDS Planning Inc now owns 54,827 shares of the semiconductor company’s stock valued at $462,000 after purchasing an additional 2,374 shares in the last quarter. Finally, DGS Capital Management LLC raised its position in shares of United Microelectronics by 2.7% in the third quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock worth $878,000 after buying an additional 2,712 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

Shares of United Microelectronics stock opened at $6.27 on Tuesday. The firm has a market capitalization of $15.72 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 3.06 and a beta of 1.17. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 12 month low of $6.09 and a 12 month high of $9.00. The business’s 50-day moving average price is $6.61 and its 200-day moving average price is $7.60.

Analyst Upgrades and Downgrades

Several research firms recently commented on UMC. 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. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.