Moran Wealth Management LLC Purchases 95,871 Shares of United Microelectronics Corporation $UMC

Key Points

• Moran Wealth Management boosted its UMC stake by 13.8%, buying 95,871 shares to hold 792,367 shares worth about $6.23 million at the end of the quarter.
• Analysts are broadly negative on UMC, with an average rating of "Strong Sell" and a consensus target price of $8.60; JPMorgan rates it underweight while BNP Paribas Exane recently moved to neutral with the $8.60 target.
• UMC reported quarterly EPS of $0.13 (beating the $0.12 estimate) but missed revenue expectations at $1.80 billion versus $1.93 billion; the stock opened at $11.64 and trades in a 52-week range of $6.56–$12.68.

Moran Wealth Management LLC boosted its position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 792,367 shares of the semiconductor company's stock after purchasing an additional 95,871 shares during the quarter. Moran Wealth Management LLC's holdings in United Microelectronics were worth $6,228,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in UMC. Smartleaf Asset Management LLC bought a new position in United Microelectronics in the second quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in United Microelectronics by 313.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 3,234 shares in the last quarter. MGO One Seven LLC bought a new position in United Microelectronics in the third quarter worth about $77,000. Euro Pacific Asset Management LLC bought a new position in United Microelectronics in the third quarter worth about $80,000. Finally, Valeo Financial Advisors LLC bought a new position in United Microelectronics in the second quarter worth about $82,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on UMC. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of United Microelectronics in a report on Thursday, January 29th. BNP Paribas Exane upgraded shares of United Microelectronics from an "underperform" rating to a "neutral" rating and set a $8.60 target price for the company in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Sell" and a consensus target price of $8.60.

United Microelectronics Price Performance

Shares of UMC stock opened at $11.64 on Friday. United Microelectronics Corporation has a fifty-two week low of $6.56 and a fifty-two week high of $12.68. The firm has a market capitalization of $29.23 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 5.64 and a beta of 1.16. 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 $9.73 and its 200-day simple moving average is $8.73.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

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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