10,600 Shares in United Microelectronics Co. (NYSE:UMC) Bought by Synovus Financial Corp

Synovus Financial Corp bought a new stake in United Microelectronics Co. (NYSE:UMC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,600 shares of the semiconductor company’s stock, valued at approximately $89,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its position 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 acquiring an additional 4,577,177 shares during the period. Genesis Investment Management LLP increased 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 valued at $36,655,000 after purchasing an additional 474,004 shares in the last quarter. State Street Corp raised its holdings in United Microelectronics by 1.5% in the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after purchasing an additional 53,105 shares during the period. Barclays PLC boosted its position in shares of United Microelectronics by 8.1% during the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after purchasing an additional 240,380 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after buying an additional 970,600 shares during the period. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $6.52 on Friday. 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 firm has a market cap of $16.34 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. United Microelectronics Co. has a one year low of $6.31 and a one year high of $9.00. The stock’s 50-day moving average is $7.05 and its 200-day moving average is $7.95.

Wall Street Analysts Forecast Growth

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

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.