Arrowpoint Investment Partners Singapore Pte. Ltd. Buys New Position in United Microelectronics Co. (NYSE:UMC)

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of United Microelectronics Co. (NYSE:UMC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 100,121 shares of the semiconductor company's stock, valued at approximately $650,000.

A number of other large investors have also added to or reduced their stakes in UMC. Hsbc Holdings PLC bought a new position in United Microelectronics during the fourth quarter worth $242,000. Dimensional Fund Advisors LP raised its position in shares of United Microelectronics by 20.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,288,513 shares of the semiconductor company's stock worth $8,362,000 after acquiring an additional 214,783 shares in the last quarter. Barclays PLC raised its position in shares of United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company's stock worth $26,995,000 after acquiring an additional 240,380 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of United Microelectronics by 6.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company's stock valued at $544,000 after purchasing an additional 5,377 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of United Microelectronics by 178.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 383,842 shares of the semiconductor company's stock valued at $2,506,000 after purchasing an additional 246,034 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on UMC shares. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a report on Friday, March 21st. Wedbush lowered shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $7.40.

United Microelectronics Trading Down 2.8%

NYSE:UMC traded down $0.23 during midday trading on Monday, reaching $7.85. 12,474,914 shares of the stock traded hands, compared to its average volume of 12,680,245. The stock has a market capitalization of $19.71 billion, a P/E ratio of 13.53, a PEG ratio of 4.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company has a fifty day moving average of $7.04 and a 200 day moving average of $6.67. United Microelectronics Co. has a 12 month low of $5.61 and a 12 month high of $9.00.

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

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.