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

Citigroup Inc. trimmed its holdings in United Microelectronics Co. (NYSE:UMC) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,418,983 shares of the semiconductor company’s stock after selling 18,519 shares during the period. Citigroup Inc.’s holdings in United Microelectronics were worth $37,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new position in United Microelectronics in the 3rd quarter valued at $37,000. GAMMA Investing LLC raised its stake in United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC bought a new stake in United Microelectronics during the third quarter worth about $84,000. Aprio Wealth Management LLC acquired a new stake in United Microelectronics during the second quarter worth about $95,000. Finally, Simon Quick Advisors LLC bought a new position in United Microelectronics in the 2nd quarter valued at about $103,000. 5.05% of the stock is currently owned by institutional investors.

United Microelectronics Stock Up 1.2 %

Shares of NYSE:UMC opened at $6.85 on Monday. United Microelectronics Co. has a 52-week low of $6.71 and a 52-week high of $9.00. The company has a market capitalization of $17.17 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. 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 has a fifty day moving average of $7.73 and a 200-day moving average of $8.18.

Analyst Ratings Changes

UMC has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. 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 note on Wednesday, October 30th. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.