United Microelectronics Corp (NYSE:UMC) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 12,929,230 shares, a drop of 25.0% from the November 30th total of 17,244,797 shares. Based on an average daily volume of 1,363,241 shares, the short-interest ratio is presently 9.5 days.
A number of large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in United Microelectronics during the 3rd quarter worth approximately $312,000. OZ Management LP lifted its holdings in United Microelectronics by 141.8% during the 3rd quarter. OZ Management LP now owns 1,240,497 shares of the semiconductor company’s stock worth $3,101,000 after purchasing an additional 727,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in United Microelectronics by 18.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 489,008 shares of the semiconductor company’s stock worth $1,223,000 after purchasing an additional 77,481 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in United Microelectronics by 116.6% during the 3rd quarter. Wells Fargo & Company MN now owns 5,998,324 shares of the semiconductor company’s stock worth $14,995,000 after purchasing an additional 3,229,151 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in United Microelectronics by 1,592.0% during the 3rd quarter. Citadel Advisors LLC now owns 259,288 shares of the semiconductor company’s stock worth $648,000 after purchasing an additional 243,964 shares during the last quarter. 5.79% of the stock is owned by institutional investors and hedge funds.
Shares of United Microelectronics (NYSE UMC) opened at $2.47 on Friday. The firm has a market capitalization of $6,014.37, a P/E ratio of 17.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.31 and a current ratio of 1.51. United Microelectronics has a fifty-two week low of $1.76 and a fifty-two week high of $2.73.
About United Microelectronics
United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.
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