Angeles Investment Advisors LLC Reduces Position in United Microelectronics Co. (NYSE:UMC)

Angeles Investment Advisors LLC lowered its stake in shares of United Microelectronics Co. (NYSE:UMC) by 12.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,449 shares of the semiconductor company’s stock after selling 2,014 shares during the period. Angeles Investment Advisors LLC’s holdings in United Microelectronics were worth $122,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in UMC. Victory Capital Management Inc. grew 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 buying an additional 73,202 shares during the period. Verus Capital Partners LLC purchased a new position in shares of United Microelectronics during the 3rd quarter worth $497,000. Assetmark Inc. bought a new stake in shares of United Microelectronics during the 3rd quarter valued at $37,000. PDS Planning Inc increased its stake in shares of United Microelectronics by 4.5% in the 3rd quarter. PDS Planning Inc now owns 54,827 shares of the semiconductor company’s stock worth $462,000 after purchasing an additional 2,374 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in United Microelectronics by 30.5% during the third quarter. QRG Capital Management Inc. now owns 66,771 shares of the semiconductor company’s stock valued at $562,000 after purchasing an additional 15,612 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on UMC shares. StockNews.com raised United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research report on Thursday, October 17th. Finally, Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Performance

NYSE:UMC opened at $6.92 on Thursday. The stock has a 50-day moving average price of $7.99 and a 200 day moving average price of $8.24. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. United Microelectronics Co. has a 12-month low of $6.78 and a 12-month high of $9.00. The stock has a market capitalization of $17.33 billion, a P/E ratio of 10.66, a P/E/G ratio of 3.38 and a beta of 1.20.

United Microelectronics 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.