Vident Advisory LLC Cuts Stake in United Microelectronics Co. (NYSE:UMC)

Vident Advisory LLC lessened its holdings in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,512 shares of the semiconductor company's stock after selling 182,333 shares during the quarter. Vident Advisory LLC's holdings in United Microelectronics were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of United Microelectronics by 4.7% during 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 in the last quarter. LPL Financial LLC grew its stake in United Microelectronics by 3.3% in the fourth quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock worth $401,000 after purchasing an additional 1,963 shares during the period. Banque Pictet & Cie SA grew its stake in United Microelectronics by 3.5% in the fourth quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company's stock worth $484,000 after purchasing an additional 2,500 shares during the period. Freedom Investment Management Inc. grew its stake in United Microelectronics by 14.7% in the fourth quarter. Freedom Investment Management Inc. now owns 23,139 shares of the semiconductor company's stock worth $150,000 after purchasing an additional 2,969 shares during the period. Finally, PDS Planning Inc grew its stake in United Microelectronics by 5.5% in the fourth quarter. PDS Planning Inc now owns 57,828 shares of the semiconductor company's stock worth $375,000 after purchasing an additional 3,001 shares during the period. Institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Wedbush cut United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Finally, Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Up 0.6%

Shares of NYSE UMC traded up $0.05 during trading on Wednesday, reaching $7.79. The company had a trading volume of 2,440,219 shares, compared to its average volume of 12,625,065. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The stock has a market cap of $19.56 billion, a PE ratio of 13.41, a P/E/G ratio of 4.44 and a beta of 1.13. The business's 50-day moving average is $7.08 and its 200 day moving average is $6.68. 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 earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $57.63 billion. During the same period in the prior year, the company posted $0.13 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

About United Microelectronics

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.