Ignite Planners LLC Acquires 7,406 Shares of United Microelectronics Co. (NYSE:UMC)

Ignite Planners LLC increased its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,709 shares of the semiconductor company’s stock after acquiring an additional 7,406 shares during the quarter. Ignite Planners LLC’s holdings in United Microelectronics were worth $642,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in United Microelectronics by 96.0% during the third quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after acquiring an additional 73,202 shares during the last quarter. Two Sigma Advisers LP grew its position in 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 worth $10,774,000 after purchasing an additional 970,600 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of United Microelectronics in the third quarter valued at approximately $1,099,000. MML Investors Services LLC purchased a new stake in shares of United Microelectronics during the third quarter valued at approximately $86,000. Finally, Cerity Partners LLC lifted its holdings in United Microelectronics by 90.5% during the third quarter. Cerity Partners LLC now owns 237,027 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 112,624 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

United Microelectronics Trading Up 1.0 %

Shares of United Microelectronics stock opened at $6.21 on Tuesday. The stock has a market capitalization of $15.56 billion, a P/E ratio of 9.55, a P/E/G ratio of 3.09 and a beta of 1.17. United Microelectronics Co. has a 52-week low of $6.09 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The stock’s 50-day simple moving average is $6.69 and its 200 day simple moving average is $7.68.

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.