Robeco Institutional Asset Management B.V. Invests $1.92 Million in United Microelectronics Corporation $UMC

Key Points

• Robeco Institutional Asset Management opened a new position in United Microelectronics (NYSE:UMC) in Q4, buying 244,771 shares valued at about $1.92 million.
• UMC reported $0.13 EPS for the quarter (beating estimates of $0.12) with revenue of $1.80 billion (below estimates), and revenue was up 7% year-over-year; analysts expect ~0.51 EPS for the fiscal year.
• Despite recent gains, Wall Street is broadly bearish on UMC with an average rating of "Strong Sell" and an average price target of $8.60, while the stock trades around $11.64 with a market cap of ~$29.2 billion and a 1‑year range of $6.56–$12.68.

Robeco Institutional Asset Management B.V. bought a new position in United Microelectronics Corporation (NYSE:UMC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 244,771 shares of the semiconductor company's stock, valued at approximately $1,924,000.

A number of other hedge funds have also recently modified their holdings of UMC. Smartleaf Asset Management LLC purchased a new stake in shares of 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 3rd 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 during the period. MGO One Seven LLC acquired a new position in United Microelectronics in the 3rd quarter worth about $77,000. Euro Pacific Asset Management LLC acquired a new position in United Microelectronics in the 3rd quarter worth about $80,000. Finally, Valeo Financial Advisors LLC acquired a new position in United Microelectronics in the 2nd quarter worth about $82,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

United Microelectronics Price Performance

UMC stock opened at $11.64 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.34 and a quick ratio of 1.91. The business has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $8.72. The firm has a market capitalization of $29.23 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 5.64 and a beta of 1.16. United Microelectronics Corporation has a 1 year low of $6.56 and a 1 year high of $12.68.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Equities research analysts anticipate that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UMC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of United Microelectronics in a report 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 for the company in a report 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. According to data from MarketBeat, the stock presently has an average rating of "Strong Sell" and an average price target of $8.60.

About United Microelectronics

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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