Cubist Systematic Strategies LLC cut its stake in United Microelectronics Corp (NYSE:UMC) by 52.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,998 shares of the semiconductor company’s stock after selling 20,549 shares during the period. Cubist Systematic Strategies LLC’s holdings in United Microelectronics were worth $42,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CAPROCK Group Inc. acquired a new position in United Microelectronics in the second quarter valued at $31,000. Private Advisor Group LLC acquired a new position in United Microelectronics during the second quarter worth about $42,000. Marshall Wace North America L.P. purchased a new position in shares of United Microelectronics during the second quarter valued at approximately $47,000. Parallel Advisors LLC lifted its stake in shares of United Microelectronics by 39.5% during the second quarter. Parallel Advisors LLC now owns 23,107 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 6,542 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of United Microelectronics during the second quarter valued at approximately $61,000. 5.30% of the stock is owned by hedge funds and other institutional investors.
UMC traded down $0.01 during trading hours on Friday, reaching $2.33. 574,406 shares of the stock traded hands, compared to its average volume of 577,167. The firm’s fifty day simple moving average is $2.21 and its two-hundred day simple moving average is $2.13. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 39.33 and a beta of 0.91. United Microelectronics Corp has a fifty-two week low of $1.64 and a fifty-two week high of $2.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.32 and a quick ratio of 1.70.
Several equities analysts recently issued reports on UMC shares. ValuEngine downgraded shares of United Microelectronics from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Goldman Sachs Group raised shares of United Microelectronics from a “sell” rating to a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. United Microelectronics currently has an average rating of “Hold”.
About United Microelectronics
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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