Bank of America Corp DE Lowers Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Bank of America Corp DE cut its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 46.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,988,983 shares of the semiconductor company's stock after selling 4,390,548 shares during the period. Bank of America Corp DE owned approximately 0.20% of United Microelectronics worth $32,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its holdings in United Microelectronics by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company's stock valued at $233,000 after buying an additional 1,599 shares in the last quarter. LPL Financial LLC boosted its position in shares of United Microelectronics by 3.3% during the 4th quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock valued at $401,000 after acquiring an additional 1,963 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in shares of United Microelectronics by 3.5% in the fourth quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company's stock valued at $484,000 after purchasing an additional 2,500 shares during the period. Freedom Investment Management Inc. increased its position in United Microelectronics by 14.7% during the fourth quarter. Freedom Investment Management Inc. now owns 23,139 shares of the semiconductor company's stock worth $150,000 after purchasing an additional 2,969 shares during the last quarter. Finally, PDS Planning Inc raised its stake in United Microelectronics by 5.5% during the fourth quarter. PDS Planning Inc now owns 57,828 shares of the semiconductor company's stock worth $375,000 after purchasing an additional 3,001 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Trading Up 0.9%

UMC stock traded up $0.08 during mid-day trading on Thursday, hitting $8.13. 1,004,251 shares of the company were exchanged, compared to its average volume of 12,604,887. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The firm has a market capitalization of $20.36 billion, a P/E ratio of 14.01, a PEG ratio of 4.44 and a beta of 1.13. The business has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $6.67. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $57.63 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. On average, equities research analysts predict that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UMC. Citigroup raised shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.40.

About United Microelectronics

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.