United Microelectronics Co. (NYSE:UMC) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC lowered its position in shares of United Microelectronics Co. (NYSE:UMC) by 21.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,976 shares of the semiconductor company’s stock after selling 10,636 shares during the period. Cable Hill Partners LLC’s holdings in United Microelectronics were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UMC. Acadian Asset Management LLC increased its position in United Microelectronics by 1,105.0% during the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock worth $1,659,000 after buying an additional 188,133 shares during the period. Blue Trust Inc. raised its position in United Microelectronics by 136.1% in the 3rd quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock valued at $1,592,000 after purchasing an additional 104,797 shares during the last quarter. Diversified Trust Co acquired a new stake in United Microelectronics during the 2nd quarter worth $113,000. Mirae Asset Global Investments Co. Ltd. grew its position in United Microelectronics by 35.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 9,071 shares during the last quarter. Finally, 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 during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. 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 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. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Price Performance

Shares of UMC opened at $6.88 on Friday. The firm has a market capitalization of $17.24 billion, a PE ratio of 10.58, a P/E/G ratio of 3.35 and a beta of 1.20. The stock’s 50 day moving average is $7.96 and its two-hundred day moving average is $8.23. United Microelectronics Co. has a twelve month low of $6.78 and a twelve month high of $9.00. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

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.