Bridgewater Advisors Inc. Trims Stock Position in United Microelectronics Co. (NYSE:UMC)

Bridgewater Advisors Inc. trimmed its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 4.6% in the fourth quarter, HoldingsChannel reports. The firm owned 71,077 shares of the semiconductor company’s stock after selling 3,441 shares during the period. Bridgewater Advisors Inc.’s holdings in United Microelectronics were worth $448,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ignite Planners LLC increased its position in United Microelectronics by 8.2% during the fourth quarter. Ignite Planners LLC now owns 97,709 shares of the semiconductor company’s stock worth $642,000 after buying an additional 7,406 shares in the last quarter. JPMorgan Chase & Co. boosted 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. DGS Capital Management LLC increased its position in United Microelectronics by 2.7% during the 3rd quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock worth $878,000 after purchasing an additional 2,712 shares in the last quarter. Synovus Financial Corp acquired a new position in United Microelectronics in the 3rd quarter valued at about $89,000. Finally, Tidal Investments LLC lifted its holdings in United Microelectronics by 110.6% in the 3rd quarter. Tidal Investments LLC now owns 115,287 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 60,533 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Stock Performance

Shares of UMC stock opened at $6.27 on Monday. The company’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $7.62. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 52 week low of $6.09 and a 52 week high of $9.00. The company has a market cap of $15.72 billion, a PE ratio of 9.65, a P/E/G ratio of 3.00 and a beta of 1.17.

Analyst Upgrades and Downgrades

UMC has been the subject of a number of analyst reports. The Goldman Sachs Group lowered shares of 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. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, United Microelectronics presently 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.