Stock traders buy large volume of call options on United Microelectronics (NYSE:UMC)

United Microelectronics Co. (NYSE:UMC – Get Rating) was the recipient of unusually heavy options trading activity on Thursday. Traders bought 9,139 call options on the stock. This is an 83% increase from the typical volume of 4,999 call options.

Institutional investors weigh in on United Microelectronics

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. Advisor Partners LLC increased its stake in United Microelectronics by 13.1% in the 1st quarter. Advisor Partners LLC now owns 12,077 shares of the semiconductor company worth $110,000 after acquiring 1,401 additional shares in the last quarter. SG Americas Securities LLC increased its stake in United Microelectronics by 933.9% in the 1st quarter. SG Americas Securities LLC now owns 608,803 shares of the semiconductor company worth $5,552,000 after acquiring an additional 549,917 shares last quarter. Allspring Global Investments Holdings LLC acquired a new position in United Microelectronics during Q1 worth $487,000. Leo Brokerage LLC acquired a new position in United Microelectronics during Q1 worth $95,000. Finally, Envestnet Asset Management Inc. increased its stake in United Microelectronics by 13.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 323,215 shares of the semiconductor company worth $2,948,000 after acquiring 37,221 additional shares in the last quarter. Hedge funds and other institutional investors own 5.23% of the company’s shares.

United Microelectronics is trading up 9.2%

Shares of UMC rose $0.59 during Thursday’s midday session, hitting $7.00. The company’s stock had a trading volume of 938,430 shares, compared to its average volume of 12,603,302. The company’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $7.01. United Microelectronics has a 12-month low of $5.36 and a 12-month high of $12.68. The company has a quick ratio of 1.81, a current ratio of 2.02 and a leverage ratio of 0.16. The company has a market capitalization of $17.39 billion, a PE ratio of 5.53 and a beta of 1.12.

A Wall Street analyst gives his opinion

Several research analysts have recently released reports on the stock. Wedbush reissued an “outperforming” rating on United Microelectronics shares in a Wednesday, July 27, report. Mizuho downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating in a Wednesday, July 27 research report. StockNews.com upgraded United Microelectronics shares from a “buy” rating to a “strong buy” rating in a Tuesday, Nov. 1, research report. Finally, Daiwa Capital Markets upgraded United Microelectronics shares from a “hold” rating to an “outperform” rating in a Wednesday, September 14 research report. One research analyst has assigned the stock a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating for the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

About United Microelectronics

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United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, USA, Europe and internationally. The company provides circuit design, mask tooling, wafer fabrication, assembly and testing services. It serves fabless design companies and embedded device manufacturers.

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