Voloridge Investment Management LLC Sells 1,004,983 Shares of United Microelectronics Co. (NYSE:UMC)

Voloridge Investment Management LLC cut its holdings in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 47.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,104,638 shares of the semiconductor company's stock after selling 1,004,983 shares during the quarter. Voloridge Investment Management LLC's holdings in United Microelectronics were worth $7,169,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC grew its stake in shares of United Microelectronics by 9.6% during the fourth quarter. Squarepoint Ops LLC now owns 796,950 shares of the semiconductor company's stock worth $5,172,000 after buying an additional 70,101 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of United Microelectronics by 86.2% in the 4th quarter. Tidal Investments LLC now owns 214,675 shares of the semiconductor company's stock worth $1,393,000 after acquiring an additional 99,388 shares during the last quarter. Man Group plc bought a new stake in United Microelectronics in the 4th quarter worth about $279,000. Nomura Holdings Inc. bought a new stake in United Microelectronics in the 4th quarter worth about $2,168,000. Finally, Millennium Management LLC grew its position in United Microelectronics by 3,091.8% in 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. 5.05% of the stock is owned by institutional investors.

United Microelectronics Price Performance

NYSE UMC traded down $0.12 on Friday, hitting $7.59. The stock had a trading volume of 1,885,531 shares, compared to its average volume of 12,622,685. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. The firm has a 50-day moving average of $7.12 and a 200-day moving average of $6.70.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $57.63 billion. United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Equities analysts expect that United Microelectronics Co. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

UMC has been the subject of a number of research reports. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Finally, Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. 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 MarketBeat.com, United Microelectronics has a consensus rating of "Hold" and an average price target of $7.40.

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.