FMR LLC boosted its position in United Microelectronics Co. (NYSE:UMC - Free Report) by 192.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,738 shares of the semiconductor company's stock after buying an additional 197,998 shares during the quarter. FMR LLC's holdings in United Microelectronics were worth $2,532,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC acquired a new stake in shares of United Microelectronics in the first quarter valued at about $234,000. Diversified Trust Co bought a new position in United Microelectronics in the 2nd quarter worth approximately $113,000. Hennessy Advisors Inc. lifted its holdings in shares of United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company's stock worth $137,000 after buying an additional 1,836 shares during the last quarter. Signaturefd LLC boosted its position in shares of United Microelectronics by 1.4% in the second quarter. Signaturefd LLC now owns 229,462 shares of the semiconductor company's stock valued at $2,010,000 after acquiring an additional 3,165 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of United Microelectronics by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company's stock worth $626,000 after acquiring an additional 1,756 shares during the last quarter. Institutional investors own 5.05% of the company's stock.
United Microelectronics Price Performance
Shares of NYSE:UMC traded down $0.01 during midday trading on Friday, reaching $6.39. 15,107,327 shares of the company's stock were exchanged, compared to its average volume of 9,857,409. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company's 50 day simple moving average is $7.19 and its two-hundred day simple moving average is $8.00. United Microelectronics Co. has a 12 month low of $6.31 and a 12 month high of $9.00. The firm has a market capitalization of $16.01 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17.
Analysts Set New Price Targets
Several research firms recently commented on UMC. Morgan Stanley cut shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a research note on Monday, October 28th. The Goldman Sachs Group lowered shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded United Microelectronics from an "overweight" rating to a "neutral" rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut United Microelectronics from a "buy" rating to a "hold" rating in a report on Sunday, November 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.40.
Check Out Our Latest Research Report on UMC
United Microelectronics Company Profile
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Free Report)
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.
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