Millennium Management LLC Purchases 13,880,446 Shares of United Microelectronics Co. (NYSE:UMC)

Millennium Management LLC lifted its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 3,091.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,329,393 shares of the semiconductor company's stock after purchasing an additional 13,880,446 shares during the period. Millennium Management LLC owned 0.57% of United Microelectronics worth $92,998,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Savant Capital LLC bought a new position in United Microelectronics during the fourth quarter worth about $66,000. Verdence Capital Advisors LLC acquired a new position in shares of United Microelectronics in the 4th quarter valued at $69,000. Callan Family Office LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new stake in United Microelectronics during the 4th quarter worth $73,000. Finally, Natural Investments LLC bought a new position in United Microelectronics during the fourth quarter worth about $74,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Wedbush downgraded United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Stock Down 0.9%

UMC stock traded down $0.08 during midday trading on Tuesday, hitting $7.85. The company's stock had a trading volume of 766,449 shares, compared to its average volume of 13,725,536. The company's fifty day moving average price is $6.94 and its 200 day moving average price is $6.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. United Microelectronics Co. has a twelve month low of $5.61 and a twelve month high of $9.00. The stock has a market capitalization of $19.66 billion, a P/E ratio of 13.53, a PEG ratio of 4.44 and a beta of 1.13.

United Microelectronics (NYSE:UMC - Get Free Report) last announced 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). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $57.63 billion. During the same quarter in the previous year, the business earned $0.13 EPS. United Microelectronics's revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that United Microelectronics Co. will post 0.51 EPS for the current 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.