Pinnacle Wealth Planning Services Inc. Cuts Holdings in United Microelectronics Co. (NYSE:UMC)

Pinnacle Wealth Planning Services Inc. lowered its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 52.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,120 shares of the semiconductor company's stock after selling 36,228 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in United Microelectronics were worth $215,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Savant Capital LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $66,000. Verdence Capital Advisors LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $69,000. Callan Family Office LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $70,000. SBI Securities Co. Ltd. purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $73,000. Finally, Natural Investments LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $74,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. Wedbush cut shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. Finally, Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, United Microelectronics presently has a consensus rating of "Hold" and an average target price of $7.40.

United Microelectronics Stock Down 1.0%

Shares of NYSE:UMC traded down $0.08 during midday trading on Friday, reaching $7.62. The company's stock had a trading volume of 9,457,630 shares, compared to its average volume of 12,681,554. The firm has a 50 day moving average of $7.14 and a 200-day moving average of $6.70. The firm has a market capitalization of $19.14 billion, a P/E ratio of 13.14, a PEG ratio of 4.44 and a beta of 1.13. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $57.63 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. United Microelectronics's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. On average, research analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current year.

United Microelectronics Company Profile

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.