Rhumbline Advisers Has $5.14 Million Stake in United Microelectronics Corporation $UMC

Key Points

• Rhumbline Advisers reduced its stake in United Microelectronics Corporation (NYSE: UMC) by 5.2%, holding 718,566 shares valued at approximately $5.14 million after selling 39,347 shares in the first quarter.
• United Microelectronics reported earnings per share of $0.12, missing analysts' estimates of $0.14, with quarterly revenue of $1.98 billion compared to the expected $61.88 billion.
• The stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $7.40, and has experienced a fifty-two week range between $5.61 and $8.86.

Rhumbline Advisers decreased its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718,566 shares of the semiconductor company's stock after selling 39,347 shares during the quarter. Rhumbline Advisers' holdings in United Microelectronics were worth $5,138,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in United Microelectronics during the first quarter worth about $29,000. Farther Finance Advisors LLC increased its stake in shares of United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock valued at $35,000 after buying an additional 2,859 shares during the period. Choreo LLC acquired a new position in shares of United Microelectronics in the first quarter valued at approximately $80,000. GAMMA Investing LLC increased its stake in shares of United Microelectronics by 262.9% in the first quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock valued at $87,000 after buying an additional 8,772 shares during the period. Finally, Adero Partners LLC acquired a new position in shares of United Microelectronics in the first quarter valued at approximately $89,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Stock Performance

NYSE:UMC opened at $6.76 on Friday. The company has a market capitalization of $16.98 billion, a PE ratio of 13.80, a P/E/G ratio of 4.07 and a beta of 1.06. The company has a 50 day simple moving average of $7.01 and a two-hundred day simple moving average of $7.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. United Microelectronics Corporation has a fifty-two week low of $5.61 and a fifty-two week high of $8.86.

United Microelectronics (NYSE:UMC - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $61.88 billion. United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. During the same period in the prior year, the company posted $0.17 EPS. Research analysts anticipate that United Microelectronics Corporation will post 0.51 earnings per share 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.

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