Squarepoint Ops LLC boosted its position in United Microelectronics Co. (NYSE:UMC - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 796,950 shares of the semiconductor company's stock after acquiring an additional 70,101 shares during the quarter. Squarepoint Ops LLC's holdings in United Microelectronics were worth $5,172,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in UMC. Savant Capital LLC purchased a new position in United Microelectronics in the fourth quarter valued at approximately $66,000. Verdence Capital Advisors LLC purchased a new position in United Microelectronics in the fourth quarter valued at approximately $69,000. Callan Family Office LLC purchased a new position in United Microelectronics in the fourth quarter valued at approximately $70,000. SBI Securities Co. Ltd. purchased a new position in United Microelectronics in the fourth quarter valued at approximately $73,000. Finally, Natural Investments LLC purchased a new position in United Microelectronics in the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 5.05% of the company's stock.
United Microelectronics Stock Performance
Shares of UMC traded down $0.09 during mid-day trading on Friday, reaching $7.62. 1,625,413 shares of the company's stock were exchanged, compared to its average volume of 12,620,709. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The business's fifty day simple moving average is $7.12 and its 200-day simple moving average is $6.70. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00. The stock has a market capitalization of $19.13 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13.
United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $57.63 billion. During the same period in the prior year, the business earned $0.13 earnings per share. United Microelectronics's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that United Microelectronics Co. will post 0.51 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Finally, Wedbush lowered shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.40.
Check Out Our Latest Stock Analysis on UMC
United Microelectronics Profile
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Free Report)
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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