Genesis Investment Management LLP Has $6.55 Million Stake in United Microelectronics Co. (NYSE:UMC)

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

Several other large investors have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in United Microelectronics by 96.0% during the 3rd quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after buying an additional 73,202 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of United Microelectronics by 314.1% in the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after acquiring an additional 970,600 shares during the period. JPMorgan Chase & Co. raised its stake in shares of United Microelectronics by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock valued at $6,787,000 after acquiring an additional 53,264 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of United Microelectronics during the third quarter worth about $1,099,000. Finally, MML Investors Services LLC bought a new stake in shares of United Microelectronics in the third quarter worth about $86,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Up 1.0 %

Shares of NYSE:UMC opened at $6.27 on Tuesday. The firm has a market capitalization of $15.72 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.06 and a beta of 1.17. 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 has a 50 day moving average price of $6.61 and a 200-day moving average price of $7.60. United Microelectronics Co. has a 52-week low of $6.09 and a 52-week high of $9.00.

Wall Street Analysts Forecast Growth

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