KADENSA CAPITAL Ltd Decreases Position in United Microelectronics Corporation $UMC

Key Points

• KADENSA CAPITAL Ltd reduced its stake in United Microelectronics Corporation by 24.7%, selling 385,021 shares and holding 1,175,186 shares worth approximately $8.4 million at the end of the quarter.
• United Microelectronics reported $0.12 EPS for the most recent quarter, missing the consensus estimate of $0.14 EPS, with revenues of $1.98 billion.
• Wall Street analysts maintain a consensus rating of "Hold" for United Microelectronics, with an average target price of $7.40.

KADENSA CAPITAL Ltd lessened its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,175,186 shares of the semiconductor company's stock after selling 385,021 shares during the period. KADENSA CAPITAL Ltd's holdings in United Microelectronics were worth $8,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Millennium Management LLC raised its holdings in United Microelectronics by 3,091.8% in the 4th quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock worth $92,998,000 after purchasing an additional 13,880,446 shares in the last quarter. Northern Trust Corp increased its stake in United Microelectronics by 238.8% during the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock valued at $20,667,000 after purchasing an additional 2,244,574 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of United Microelectronics by 360.1% during the 1st quarter. Nomura Holdings Inc. now owns 1,536,660 shares of the semiconductor company's stock valued at $10,987,000 after acquiring an additional 1,202,660 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of United Microelectronics by 958.3% during the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock valued at $6,379,000 after acquiring an additional 889,972 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of United Microelectronics in the fourth quarter worth approximately $4,009,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Stock Down 0.3%

Shares of UMC traded down $0.02 during mid-day trading on Tuesday, hitting $6.87. 2,938,165 shares of the company traded hands, compared to its average volume of 11,052,310. 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 market capitalization of $17.26 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 4.08 and a beta of 1.06. The business has a 50 day moving average of $7.08 and a 200 day moving average of $7.15.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $61.88 billion. During the same quarter last year, the business earned $0.17 EPS. Equities research analysts anticipate that United Microelectronics Corporation 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.