Mirae Asset Global Investments Co. Ltd. Has $1.33 Million Stake in United Microelectronics Corporation $UMC

Key Points

• Mirae Asset sharply increased its position in United Microelectronics by 3,854.2% in Q4, ending the period with 168,648 shares worth about $1.33 million.
• UMC posted Q results with EPS of $0.13 (beating the $0.12 estimate) and revenue of $1.80 billion (below the $1.93 billion estimate) while revenue rose 7% year-over-year; the stock has a $30.14 billion market cap, a P/E of 22.22 and a 52-week range of $6.56–$12.82.
• Wall Street sentiment is largely negative — the consensus rating is Strong Sell with an average target of $8.60, amid mixed notes including JPMorgan's "underweight" and BNP Paribas Exane's move to "neutral."

Mirae Asset Global Investments Co. Ltd. raised its position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 3,854.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,648 shares of the semiconductor company's stock after purchasing an additional 164,383 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in United Microelectronics were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Global Investments acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at about $1,097,000. North of South Capital LLP acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at about $948,000. US Bancorp DE raised its stake in shares of United Microelectronics by 102.7% in the 3rd quarter. US Bancorp DE now owns 541,044 shares of the semiconductor company's stock valued at $4,101,000 after purchasing an additional 274,157 shares during the period. Quantbot Technologies LP raised its stake in shares of United Microelectronics by 2,855.8% in the 3rd quarter. Quantbot Technologies LP now owns 235,604 shares of the semiconductor company's stock valued at $1,786,000 after purchasing an additional 227,633 shares during the period. Finally, Ethic Inc. raised its stake in shares of United Microelectronics by 23.7% in the 3rd quarter. Ethic Inc. now owns 424,992 shares of the semiconductor company's stock valued at $3,221,000 after purchasing an additional 81,418 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Price Performance

NYSE:UMC opened at $12.00 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34. The stock's 50-day simple moving average is $9.91 and its 200 day simple moving average is $8.86. The company has a market cap of $30.14 billion, a P/E ratio of 22.22, a P/E/G ratio of 6.75 and a beta of 1.16. United Microelectronics Corporation has a 52-week low of $6.56 and a 52-week high of $12.82.

United Microelectronics (NYSE:UMC - Get Free Report) last released its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.United Microelectronics's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that United Microelectronics Corporation will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on UMC. JPMorgan Chase & Co. reissued an "underweight" rating on shares of United Microelectronics in a research note on Thursday, January 29th. BNP Paribas Exane raised United Microelectronics from an "underperform" rating to a "neutral" rating and set a $8.60 price target on the stock in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Sell" and an average target price of $8.60.

United Microelectronics Company Profile

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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