United Microelectronics Corporation $UMC Position Reduced by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. trimmed its UMC stake by 63.6% in Q3, selling 1,060,813 shares and leaving 608,033 shares valued at about $4.61 million in its most recent SEC filing.
• Analyst sentiment is negative overall with a MarketBeat consensus rating of "Reduce" and a consensus price target of $8.60, as three analysts rate UMC a Hold and three rate it a Sell.
• UMC beat EPS estimates for the quarter ($0.13 vs. $0.12) but missed revenue expectations ($1.80B vs. $1.93B), and the company has a market cap of about $21.8 billion and a trailing P/E of 16.05.

JPMorgan Chase & Co. trimmed its position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 63.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 608,033 shares of the semiconductor company's stock after selling 1,060,813 shares during the period. JPMorgan Chase & Co.'s holdings in United Microelectronics were worth $4,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMC. Smartleaf Asset Management LLC bought a new stake in shares of United Microelectronics in the 2nd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in United Microelectronics by 313.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company's stock valued at $32,000 after buying an additional 3,234 shares in the last quarter. Euro Pacific Asset Management LLC bought a new position in United Microelectronics during the third quarter valued at about $80,000. MGO One Seven LLC acquired a new position in United Microelectronics during the third quarter worth about $77,000. Finally, Valeo Financial Advisors LLC acquired a new position in United Microelectronics during the second quarter worth about $82,000. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UMC shares. Wall Street Zen downgraded shares of United Microelectronics from a "buy" rating to a "hold" rating in a report on Saturday, December 6th. BNP Paribas Exane raised shares of United Microelectronics from an "underperform" rating to a "neutral" rating and set a $8.60 price objective on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of United Microelectronics in a report on Thursday, January 29th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $8.60.

United Microelectronics Stock Performance

UMC opened at $8.67 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.34 and a debt-to-equity ratio of 0.12. The firm has a market cap of $21.77 billion, a PE ratio of 16.05, a P/E/G ratio of 4.77 and a beta of 1.16. The business has a fifty day simple moving average of $9.92 and a 200-day simple moving average of $8.53. United Microelectronics Corporation has a fifty-two week low of $5.71 and a fifty-two week high of $12.68.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. United Microelectronics's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

United Microelectronics Profile

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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