Tidal Investments LLC Purchases 99,388 Shares of United Microelectronics Co. (NYSE:UMC)

Tidal Investments LLC grew its stake in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 86.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,675 shares of the semiconductor company's stock after acquiring an additional 99,388 shares during the period. Tidal Investments LLC's holdings in United Microelectronics were worth $1,393,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC raised its stake in shares of United Microelectronics by 3,091.8% during the 4th quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock worth $92,998,000 after purchasing an additional 13,880,446 shares in the last quarter. Northern Trust Corp increased its holdings in United Microelectronics by 238.8% in the fourth quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock worth $20,667,000 after buying an additional 2,244,574 shares during the last quarter. Renaissance Technologies LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $12,768,000. JPMorgan Chase & Co. raised its position in United Microelectronics by 150.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock valued at $13,122,000 after acquiring an additional 1,215,849 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in United Microelectronics by 958.3% in the fourth quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock valued at $6,379,000 after acquiring an additional 889,972 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UMC has been the topic of several recent research reports. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group reissued a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Price Performance

UMC traded down $0.09 during midday trading on Friday, reaching $7.62. 1,244,128 shares of the company's stock were exchanged, compared to its average volume of 12,619,862. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $6.70. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. United Microelectronics Co. has a one year low of $5.61 and a one year high of $9.00.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings results 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). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business 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. The company's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts predict that United Microelectronics Co. will post 0.51 EPS 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.