Northern Trust Corp Acquires 2,244,574 Shares of United Microelectronics Co. (NYSE:UMC)

Northern Trust Corp grew its holdings in United Microelectronics Co. (NYSE:UMC - Free Report) by 238.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,184,444 shares of the semiconductor company's stock after acquiring an additional 2,244,574 shares during the period. Northern Trust Corp owned 0.13% of United Microelectronics worth $20,667,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of United Microelectronics by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock worth $103,501,000 after purchasing an additional 750,472 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of United Microelectronics by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock worth $47,379,000 after purchasing an additional 237,024 shares in the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 10.7% in the fourth quarter. Barclays PLC now owns 3,547,867 shares of the semiconductor company's stock worth $23,026,000 after purchasing an additional 341,937 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of United Microelectronics by 150.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock worth $13,122,000 after purchasing an additional 1,215,849 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth $12,768,000. 5.05% of the stock is currently owned by institutional investors.

United Microelectronics Price Performance

UMC traded up $0.05 during trading on Monday, hitting $7.91. 6,735,723 shares of the company traded hands, compared to its average volume of 12,672,031. The company has a market cap of $19.82 billion, a PE ratio of 13.64, a P/E/G ratio of 4.44 and a beta of 1.13. The stock's 50-day simple moving average is $6.94 and its two-hundred day simple moving average is $6.65. United Microelectronics Co. has a 1 year low of $5.61 and a 1 year high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its earnings results 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 revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. As a group, sell-side analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup raised shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. Wedbush cut shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.