Fisher Asset Management LLC Sells 603,967 Shares of United Microelectronics Co. (NYSE:UMC)

Fisher Asset Management LLC decreased its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,063,338 shares of the semiconductor company's stock after selling 603,967 shares during the period. Fisher Asset Management LLC owned about 0.28% of United Microelectronics worth $59,473,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of United Microelectronics by 90.5% in the 3rd quarter. Cerity Partners LLC now owns 237,027 shares of the semiconductor company's stock valued at $1,996,000 after purchasing an additional 112,624 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of United Microelectronics by 60.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 169,462 shares of the semiconductor company's stock valued at $1,427,000 after purchasing an additional 63,528 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of United Microelectronics in the 3rd quarter valued at $333,000. West Family Investments Inc. boosted its stake in shares of United Microelectronics by 7.0% in the 3rd quarter. West Family Investments Inc. now owns 141,661 shares of the semiconductor company's stock valued at $1,193,000 after purchasing an additional 9,294 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of United Microelectronics by 12.8% in the 3rd quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company's stock valued at $1,531,000 after purchasing an additional 20,656 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Trading Down 0.3 %

NYSE UMC traded down $0.02 during trading on Tuesday, hitting $6.85. The company had a trading volume of 9,691,564 shares, compared to its average volume of 10,296,425. 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 one year low of $6.71 and a one year high of $9.00. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. The company's fifty day moving average is $7.70 and its 200-day moving average is $8.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a research report on Wednesday, October 30th. StockNews.com cut shares of United Microelectronics from a "buy" rating to a "hold" rating in a research report on Sunday, November 17th. Finally, The Goldman Sachs Group cut 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.40.

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.