55,195 United Microelectronics Corporation $UMC Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors sharply reduced its UMC position by selling 55,195 shares, leaving it with 1,363 shares valued at approximately $37,000 at the end of the second quarter.
• Other institutions were generally buyers, but institutional and hedge-fund ownership remains limited at 5.05% of UMC’s outstanding shares.
• UMC shares opened at $25.20 and have risen 2.9%; analysts’ consensus rating is “Reduce,” with an average price target of $8.60, despite the company reporting quarterly revenue of $2.16 billion and EPS of $0.53.

NewEdge Advisors LLC reduced its stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 97.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363 shares of the semiconductor company's stock after selling 55,195 shares during the period. NewEdge Advisors LLC's holdings in United Microelectronics were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of UMC. Dynamic Advisor Solutions LLC raised its holdings in United Microelectronics by 7.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company's stock worth $351,000 after acquiring an additional 889 shares during the period. CoreCap Advisors LLC raised its position in shares of United Microelectronics by 271.0% during the second quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company's stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. Continuum Advisory LLC acquired a new position in United Microelectronics in the 2nd quarter valued at approximately $28,000. Arrowstreet Capital Limited Partnership raised its stake in shares of United Microelectronics by 0.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company's stock valued at $1,166,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of United Microelectronics by 0.8% during the 2nd quarter. Greenleaf Trust now owns 144,148 shares of the semiconductor company's stock worth $3,922,000 after acquiring an additional 1,152 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UMC has been the subject of several analyst reports. Zacks Research downgraded shares of United Microelectronics from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Arete Research raised United Microelectronics from a "neutral" rating to a "buy" rating in a research note on Monday, August 10th. Weiss Ratings upgraded United Microelectronics from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of United Microelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $8.60.

United Microelectronics Trading Up 2.9%

Shares of United Microelectronics stock opened at $25.20 on Friday. The company has a market capitalization of $63.44 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 0.57 and a beta of 1.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 1.81. The business has a fifty day simple moving average of $20.82 and a two-hundred day simple moving average of $18.55. United Microelectronics Corporation has a 1 year low of $6.97 and a 1 year high of $28.96.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The firm had revenue of $2.16 billion for the quarter. Research analysts forecast that United Microelectronics Corporation will post 1.23 EPS for the current year.

About United Microelectronics

United Microelectronics Corp. NYSE: UMC is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by its customers rather than marketing semiconductor products under its own consumer brand.

The company provides wafer fabrication services across a range of established and specialty semiconductor processes. Its offerings support applications including communications, automotive electronics, industrial systems, consumer devices, display products and other embedded technologies.

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