33,277 Shares in United Microelectronics Corporation $UMC Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in United Microelectronics Corporation (NYSE:UMC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,277 shares of the semiconductor company’s stock, valued at approximately $815,000.

Several other hedge funds also recently made changes to their positions in UMC. Canopy Partners LLC boosted its position in United Microelectronics by 3.4% during the 3rd quarter. Canopy Partners LLC now owns 27,022 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 879 shares during the period. Founders Financial Securities LLC purchased a new position in shares of United Microelectronics in the third quarter valued at about $1,719,000. Interchange Capital Partners LLC bought a new position in shares of United Microelectronics during the third quarter valued at about $216,000. Leo Wealth LLC bought a new position in shares of United Microelectronics during the third quarter valued at about $260,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of United Microelectronics by 27.8% in 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 during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Performance

United Microelectronics stock opened at $16.02 on Thursday. United Microelectronics Corporation has a fifty-two week low of $6.97 and a fifty-two week high of $28.96. The stock’s 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $17.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.75 and a current ratio of 3.27. The stock has a market cap of $40.34 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.43 and a beta of 1.76.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

United Microelectronics Profile

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.