Barclays PLC Sells 1,181,830 Shares of United Microelectronics Corporation $UMC

Key Points

• Barclays PLC reduced its stake in United Microelectronics by 22.5% in Q3, selling 1,181,830 shares and ending the period with 4,076,004 shares (about a 0.16% stake) worth $30.896 million.
• United Microelectronics beat quarterly estimates (EPS $0.13 vs $0.12; revenue $1.97B vs $1.93B, +7% YoY), has a market cap of $23.83B, and carries an average analyst rating of "Hold" with a consensus price target of $8.60.

Barclays PLC reduced its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,076,004 shares of the semiconductor company's stock after selling 1,181,830 shares during the period. Barclays PLC owned about 0.16% of United Microelectronics worth $30,896,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rafferty Asset Management LLC raised its holdings in shares of United Microelectronics by 50.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company's stock worth $64,283,000 after buying an additional 2,826,486 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 537,777 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in shares of United Microelectronics during the second quarter valued at $24,024,000. Dimensional Fund Advisors LP lifted its holdings in shares of United Microelectronics by 19.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,084,585 shares of the semiconductor company's stock valued at $15,801,000 after acquiring an additional 340,970 shares during the period. Finally, Creative Planning boosted its stake in shares of United Microelectronics by 34.0% in the 2nd quarter. Creative Planning now owns 1,689,542 shares of the semiconductor company's stock valued at $12,925,000 after purchasing an additional 428,522 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of United Microelectronics in a research report on Thursday, January 29th. Wall Street Zen cut shares of United Microelectronics from a "buy" rating to a "hold" rating in a research note on Saturday, December 6th. BNP Paribas Exane raised shares of United Microelectronics to a "strong-buy" rating in a report on Wednesday, January 28th. Finally, Bank of America cut shares of United Microelectronics from a "buy" rating to an "underperform" rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.60.

United Microelectronics Price Performance

Shares of UMC stock opened at $9.49 on Wednesday. The stock has a 50-day moving average price of $9.85 and a 200 day moving average price of $8.27. The company has a quick ratio of 1.91, a current ratio of 2.34 and a debt-to-equity ratio of 0.12. United Microelectronics Corporation has a 12 month low of $5.71 and a 12 month high of $12.68. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 5.17 and a beta of 1.08.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Research analysts expect that United Microelectronics Corporation will post 0.51 EPS for the current year.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed NYSE: UMC and focuses on high-reliability manufacturing rather than branding consumer products.

UMC's core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.

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