United Microelectronics Co. (NYSE:UMC) Stake Raised by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 3,091.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,329,393 shares of the semiconductor company's stock after acquiring an additional 13,880,446 shares during the period. Millennium Management LLC owned about 0.57% of United Microelectronics worth $92,998,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of United Microelectronics during the fourth quarter valued at about $242,000. Dimensional Fund Advisors LP grew its stake in shares of United Microelectronics by 20.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,288,513 shares of the semiconductor company's stock valued at $8,362,000 after acquiring an additional 214,783 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of United Microelectronics by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company's stock valued at $6,787,000 after acquiring an additional 53,264 shares in the last quarter. Barclays PLC grew its stake in shares of United Microelectronics by 8.1% during the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company's stock valued at $26,995,000 after acquiring an additional 240,380 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of United Microelectronics by 6.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company's stock valued at $544,000 after acquiring an additional 5,377 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Stock Down 0.1%

Shares of UMC stock traded down $0.01 during trading hours on Friday, hitting $7.84. 4,509,288 shares of the company were exchanged, compared to its average volume of 12,695,871. 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 business's 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $6.65. United Microelectronics Co. has a one year low of $5.61 and a one year high of $9.00. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 4.44 and a beta of 1.13.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share (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 business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $57.63 billion. During the same period in the prior year, the business earned $0.13 EPS. The business's revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.