Rhumbline Advisers Sells 39,347 Shares of 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 cut its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 718,566 shares of the semiconductor company's stock after selling 39,347 shares during the period. Rhumbline Advisers' holdings in United Microelectronics were worth $5,138,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in United Microelectronics in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 2,859 shares during the last quarter. Choreo LLC bought a new stake in United Microelectronics in the first quarter valued at approximately $80,000. GAMMA Investing LLC grew its holdings in United Microelectronics by 262.9% during the 1st quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock worth $87,000 after acquiring an additional 8,772 shares during the period. Finally, Adero Partners LLC acquired a new stake in United Microelectronics during the 1st quarter worth about $89,000. 5.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Up 1.3%

Shares of UMC stock traded up $0.09 on Thursday, reaching $6.99. 7,315,861 shares of the company were exchanged, compared to its average volume of 4,199,197. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 4.14 and a beta of 1.06. The company has a 50-day moving average of $6.95 and a 200-day moving average of $7.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. United Microelectronics Corporation has a one year low of $5.61 and a one year high of $8.86.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same period last year, the company earned $0.17 EPS. 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.