153,404 Shares in United Microelectronics Corporation $UMC Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in United Microelectronics, buying 153,404 shares worth approximately $3.76 million in the third quarter.
• Analyst sentiment is mixed to negative: MarketBeat reports an average “Reduce” rating, with two Buy, three Hold, and three Sell recommendations.
• UMC reported quarterly EPS of $0.21, missing the $0.23 consensus estimate; revenue of $2.33 billion was in line with expectations.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 153,404 shares of the semiconductor company's stock, valued at approximately $3,757,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC purchased a new position in United Microelectronics during the second quarter worth $28,000. CoreCap Advisors LLC raised its stake in United Microelectronics by 271.0% in the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Trust Co. of Vermont acquired a new position in United Microelectronics in the 2nd quarter valued at about $41,000. Strategic Investment Solutions Inc. IL purchased a new position in United Microelectronics in the 2nd quarter valued at about $76,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of United Microelectronics by 27.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,313 shares of the semiconductor company's stock worth $81,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UMC. Zacks Research downgraded shares of United Microelectronics from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 25th. HSBC raised shares of United Microelectronics from a "hold" rating to a "buy" rating and lowered their target price for the stock from $37.42 to $33.76 in a research note on Thursday, July 30th. Arete Research upgraded United Microelectronics from a "neutral" rating to a "buy" rating in a report on Monday, August 10th. Wall Street Zen lowered United Microelectronics from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. Finally, Weiss Ratings cut United Microelectronics from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, United Microelectronics presently has an average rating of "Reduce" and an average target price of $36.79.

United Microelectronics Trading Up 3.6%

NYSE:UMC traded up $0.48 during trading hours on Friday, reaching $13.86. 16,775,106 shares of the company were exchanged, compared to its average volume of 11,333,096. The firm has a market cap of $34.90 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.43 and a beta of 1.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.27 and a quick ratio of 2.75. The stock has a 50 day simple moving average of $21.25 and a 200 day simple moving average of $17.16. United Microelectronics Corporation has a 52-week low of $6.97 and a 52-week high of $28.96.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). United Microelectronics had a return on equity of 20.12% and a net margin of 31.96%. The firm had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.33 billion. As a group, analysts predict that United Microelectronics Corporation will post 1.23 EPS for the current year.

United Microelectronics Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. It provides wafer fabrication and related services to fabless chip designers and integrated device manufacturers, rather than selling its own branded semiconductor products.

Founded in 1980, UMC was Taiwan's first semiconductor company. Its manufacturing and technology offerings serve applications including communications, consumer electronics, computing, automotive and industrial products.

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