Acadian Asset Management LLC Reduces Stock Holdings in United Microelectronics Corporation $UMC

Key Points

• Acadian Asset Management LLC dramatically reduced its stake in United Microelectronics Corporation by 89.1%, leaving it with 162,392 shares valued at approximately $1.16 million.
• Conversely, other institutional investors like Goldman Sachs and Jones Financial significantly increased their holdings, reflecting varying levels of confidence in the company.
• United Microelectronics stock is currently rated as a "Hold" by analysts, with a consensus price target of $7.40, and it recently traded at $6.99.

Acadian Asset Management LLC cut its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 89.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,392 shares of the semiconductor company's stock after selling 1,321,166 shares during the quarter. Acadian Asset Management LLC's holdings in United Microelectronics were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in United Microelectronics by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company's stock worth $40,438,000 after buying an additional 537,777 shares during the period. Jones Financial Companies Lllp lifted its position in United Microelectronics by 1,794.6% during the first quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company's stock worth $448,000 after buying an additional 59,349 shares during the period. AQR Capital Management LLC lifted its position in United Microelectronics by 46.1% during the first quarter. AQR Capital Management LLC now owns 1,435,628 shares of the semiconductor company's stock worth $10,265,000 after buying an additional 452,788 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of United Microelectronics by 12.7% in the 1st quarter. Advisors Asset Management Inc. now owns 213,538 shares of the semiconductor company's stock worth $1,527,000 after purchasing an additional 24,035 shares during the period. Finally, Aprio Wealth Management LLC acquired a new position in shares of United Microelectronics in the 1st quarter valued at about $166,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Trading Up 2.3%

Shares of NYSE UMC traded up $0.16 during midday trading on Friday, hitting $7.15. The stock had a trading volume of 6,828,300 shares, compared to its average volume of 4,300,895. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 4.29 and a beta of 1.06. United Microelectronics Corporation has a 1-year low of $5.61 and a 1-year high of $8.86. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $6.94 and a 200 day moving average price of $7.18.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $61.88 billion. United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current 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.