Citigroup Inc. Sells 18,519 Shares of United Microelectronics Co. (NYSE:UMC)

Citigroup Inc. reduced its holdings in United Microelectronics Co. (NYSE:UMC) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,418,983 shares of the semiconductor company’s stock after selling 18,519 shares during the quarter. Citigroup Inc. owned 0.18% of United Microelectronics worth $37,208,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in United Microelectronics by 60.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 169,462 shares of the semiconductor company’s stock worth $1,427,000 after purchasing an additional 63,528 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of United Microelectronics in the third quarter valued at approximately $333,000. West Family Investments Inc. increased its position in shares of United Microelectronics by 7.0% during the third quarter. West Family Investments Inc. now owns 141,661 shares of the semiconductor company’s stock worth $1,193,000 after acquiring an additional 9,294 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of United Microelectronics by 12.8% during the third quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company’s stock worth $1,531,000 after acquiring an additional 20,656 shares during the period. Finally, Parametrica Management Ltd bought a new stake in United Microelectronics in the 3rd quarter valued at $169,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

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

United Microelectronics Price Performance

Shares of NYSE UMC opened at $6.85 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The business has a 50-day moving average of $7.73 and a 200-day moving average of $8.18. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 3.32 and a beta of 1.20. United Microelectronics Co. has a fifty-two week low of $6.71 and a fifty-two week high of $9.00.

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.