Two Sigma Advisers LP reduced its holdings in United Microelectronics Co. (NYSE:UMC - Free Report) by 50.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633,100 shares of the semiconductor company's stock after selling 646,500 shares during the quarter. Two Sigma Advisers LP's holdings in United Microelectronics were worth $4,109,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV lifted its holdings in United Microelectronics by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company's stock valued at $233,000 after acquiring an additional 1,599 shares during the period. LPL Financial LLC increased its holdings in shares of United Microelectronics by 3.3% in the 4th quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock valued at $401,000 after purchasing an additional 1,963 shares in the last quarter. Banque Pictet & Cie SA grew its position in United Microelectronics by 3.5% during the fourth quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company's stock worth $484,000 after buying an additional 2,500 shares during the period. Freedom Investment Management Inc. lifted its position in shares of United Microelectronics by 14.7% during the 4th quarter. Freedom Investment Management Inc. now owns 23,139 shares of the semiconductor company's stock valued at $150,000 after acquiring an additional 2,969 shares during the period. Finally, PDS Planning Inc increased its stake in United Microelectronics by 5.5% in the 4th quarter. PDS Planning Inc now owns 57,828 shares of the semiconductor company's stock valued at $375,000 after purchasing an additional 3,001 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on UMC. Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One investment 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 stock. According to data from MarketBeat.com, United Microelectronics presently has an average rating of "Hold" and an average target price of $7.40.
Read Our Latest Analysis on UMC
United Microelectronics Price Performance
Shares of UMC traded down $0.09 during trading hours on Friday, reaching $7.62. 1,244,128 shares of the company traded hands, compared to its average volume of 12,619,862. The stock has a market capitalization of $19.13 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. The stock has a fifty day simple moving average of $7.12 and a 200 day simple moving average of $6.70. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.
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 (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $57.63 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. United Microelectronics's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, research analysts predict that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.
About United Microelectronics
(
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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