Bank of America Corp DE Has $32.38 Million Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Bank of America Corp DE reduced its holdings in United Microelectronics Co. (NYSE:UMC - Free Report) by 46.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,988,983 shares of the semiconductor company's stock after selling 4,390,548 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of United Microelectronics worth $32,378,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of UMC. Northern Trust Corp increased its holdings in United Microelectronics by 238.8% in the fourth quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock valued at $20,667,000 after purchasing an additional 2,244,574 shares during the period. Renaissance Technologies LLC acquired a new position in shares of United Microelectronics in the fourth quarter worth approximately $12,768,000. JPMorgan Chase & Co. increased its position in United Microelectronics by 150.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock valued at $13,122,000 after purchasing an additional 1,215,849 shares during the period. AQR Capital Management LLC raised its holdings in United Microelectronics by 958.3% during the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock worth $6,379,000 after purchasing an additional 889,972 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in United Microelectronics by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock worth $103,501,000 after purchasing an additional 750,472 shares during the last quarter. Institutional investors own 5.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

United Microelectronics Stock Up 2.7%

Shares of United Microelectronics stock traded up $0.22 during trading on Wednesday, reaching $8.07. 5,696,172 shares of the company traded hands, compared to its average volume of 13,667,241. 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 firm has a market capitalization of $20.21 billion, a PE ratio of 13.91, a P/E/G ratio of 4.44 and a beta of 1.13. The company has a 50 day moving average price of $6.96 and a 200-day moving average price of $6.66. United Microelectronics Co. has a 1-year low of $5.61 and a 1-year high of $9.00.

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

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.