Summit Global Investments Buys Shares of 311,527 United Microelectronics Co. (NYSE:UMC)

Summit Global Investments bought a new stake in shares of United Microelectronics Co. (NYSE:UMC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 311,527 shares of the semiconductor company's stock, valued at approximately $2,636,000.

Other institutional investors also recently bought and sold shares of the company. Intelligence Driven Advisers LLC grew its position in United Microelectronics by 73.8% during the fourth quarter. Intelligence Driven Advisers LLC now owns 19,373 shares of the semiconductor company's stock valued at $149,000 after buying an additional 8,227 shares during the period. Natixis Advisors L.P. grew its holdings in United Microelectronics by 10.9% during the fourth quarter. Natixis Advisors L.P. now owns 157,564 shares of the semiconductor company's stock valued at $1,332,000 after purchasing an additional 15,504 shares during the period. First Trust Direct Indexing L.P. increased its position in United Microelectronics by 14.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 189,129 shares of the semiconductor company's stock worth $1,600,000 after buying an additional 23,290 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of United Microelectronics by 13.7% in the fourth quarter. Victory Capital Management Inc. now owns 39,123 shares of the semiconductor company's stock worth $331,000 after buying an additional 4,704 shares during the period. Finally, GAMMA Investing LLC bought a new position in shares of United Microelectronics during the 4th quarter valued at approximately $27,000. Institutional investors own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

UMC has been the topic of a number of recent analyst reports. Citigroup upgraded shares of United Microelectronics from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 24th. HSBC raised shares of United Microelectronics from a "reduce" rating to a "hold" rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group downgraded United Microelectronics from a "buy" rating to a "neutral" rating and set a $8.90 price objective on the stock. in a research report on Tuesday, January 16th.

United Microelectronics Price Performance

Shares of United Microelectronics stock traded up $0.30 on Friday, hitting $8.15. 9,963,849 shares of the company traded hands, compared to its average volume of 8,019,006. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.78 and a current ratio of 2.13. The business has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $7.86. United Microelectronics Co. has a 52 week low of $6.71 and a 52 week high of $8.97. The stock has a market capitalization of $20.37 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.72 billion. United Microelectronics had a return on equity of 15.97% and a net margin of 24.79%. Research analysts expect that United Microelectronics Co. will post 0.59 earnings per share for the current fiscal year.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.

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