Founders Financial Securities LLC Makes New $1.72 Million Investment in United Microelectronics Corporation $UMC

Key Points

• Founders Financial Securities purchased 70,212 UMC shares worth approximately $1.72 million in the third quarter. Institutional investors and hedge funds collectively own 5.05% of the company.
• Analyst sentiment is mixed but leans negative: two analysts rate UMC a Buy, three rate it Hold, and three rate it Sell, resulting in a consensus “Reduce” rating and a $36.79 price target.
• UMC shares opened at $16.66 after a reported 7.6% decline. The company’s latest quarterly EPS of $0.21 fell short of the $0.23 estimate, while revenue of $2.33 billion matched expectations.

Founders Financial Securities LLC purchased a new position in United Microelectronics Corporation (NYSE:UMC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 70,212 shares of the semiconductor company's stock, valued at approximately $1,719,000.

A number of other institutional investors have also made changes to their positions in the stock. Matthews International Capital Management LLC acquired a new position in shares of United Microelectronics during the 1st quarter worth about $8,779,000. Nykredit A S bought a new position in United Microelectronics during the 2nd quarter worth approximately $9,525,000. Dimensional Fund Advisors LP boosted its stake in United Microelectronics by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company's stock worth $25,591,000 after acquiring an additional 333,011 shares during the last quarter. Delta Global Management LP acquired a new position in United Microelectronics during the first quarter valued at approximately $1,435,000. Finally, Sei Investments Co. grew its holdings in United Microelectronics by 508.6% during the first quarter. Sei Investments Co. now owns 169,183 shares of the semiconductor company's stock valued at $1,519,000 after purchasing an additional 141,385 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

United Microelectronics Stock Down 7.6%

NYSE:UMC opened at $16.66 on Friday. The stock has a 50-day simple moving average of $21.63 and a 200 day simple moving average of $17.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.81 and a current ratio of 3.27. The company has a market cap of $41.94 billion, a PE ratio of 15.43, a PEG ratio of 0.47 and a beta of 1.60. 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 announced its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.33 billion. United Microelectronics had a return on equity of 20.12% and a net margin of 31.96%. On average, sell-side analysts expect that United Microelectronics Corporation will post 1.23 EPS for the current fiscal year.

United Microelectronics Company Profile

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 customers rather than marketing its own branded semiconductor products.

The company provides wafer fabrication services across a range of process technologies, with particular expertise in specialty applications such as display driver ICs, automotive semiconductors, connectivity products, image sensors, power management components and embedded memory.

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