Mizuho Securities Co. Ltd. Sells 53,000 Shares of United Microelectronics Co. (NYSE:UMC)

Mizuho Securities Co. Ltd. decreased its position in United Microelectronics Co. (NYSE:UMC) by 64.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,335 shares of the semiconductor company’s stock after selling 53,000 shares during the quarter. Mizuho Securities Co. Ltd.’s holdings in United Microelectronics were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in UMC. Parametrica Management Ltd purchased a new position in shares of United Microelectronics in the 3rd quarter worth approximately $169,000. Victory Capital Management Inc. boosted its holdings in shares of United Microelectronics by 96.0% in the 3rd quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock worth $1,258,000 after purchasing an additional 73,202 shares during the period. Verus Capital Partners LLC purchased a new position in shares of United Microelectronics in the 3rd quarter worth approximately $497,000. Assetmark Inc. purchased a new position in shares of United Microelectronics in the 3rd quarter worth approximately $37,000. Finally, PDS Planning Inc boosted its holdings in shares of United Microelectronics by 4.5% in the 3rd quarter. PDS Planning Inc now owns 54,827 shares of the semiconductor company’s stock worth $462,000 after purchasing an additional 2,374 shares during the period. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

UMC has been the subject of a number of recent analyst reports. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com raised United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Down 0.7 %

Shares of UMC traded down $0.05 during trading hours on Wednesday, hitting $6.94. The company had a trading volume of 2,207,205 shares, compared to its average volume of 10,253,828. The company has a market capitalization of $17.39 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 3.38 and a beta of 1.20. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. United Microelectronics Co. has a one year low of $6.78 and a one year high of $9.00. The company’s fifty day moving average price is $8.01 and its two-hundred day moving average price is $8.24.

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.