Fmr LLC Buys 197,998 Shares of United Microelectronics Co. (NYSE:UMC)

Fmr LLC grew its stake in United Microelectronics Co. (NYSE:UMC) by 192.7% in the third quarter, HoldingsChannel reports. The fund owned 300,738 shares of the semiconductor company’s stock after acquiring an additional 197,998 shares during the period. Fmr LLC’s holdings in United Microelectronics were worth $2,532,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of United Microelectronics in the third quarter worth about $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new stake in shares of United Microelectronics during the third quarter worth approximately $84,000. Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics during the second quarter worth approximately $103,000. Finally, Choreo LLC bought a new stake in shares of United Microelectronics during the second quarter worth approximately $106,000. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

United Microelectronics Stock Down 0.2 %

Shares of NYSE UMC opened at $6.39 on Friday. The stock has a market cap of $16.01 billion, a P/E ratio of 9.83, a P/E/G ratio of 3.09 and a beta of 1.17. The firm has a 50 day moving average price of $7.19 and a 200 day moving average price of $8.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a 52-week low of $6.31 and a 52-week high of $9.00.

United Microelectronics Company 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.