Baird Financial Group Inc. Grows Position in United Microelectronics Co. (NYSE:UMC)

Baird Financial Group Inc. increased its holdings in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,716 shares of the semiconductor company's stock after buying an additional 46,540 shares during the period. Baird Financial Group Inc.'s holdings in United Microelectronics were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UMC. Savant Capital LLC acquired a new position in United Microelectronics in the 4th quarter valued at $66,000. Verdence Capital Advisors LLC acquired a new position in United Microelectronics in the 4th quarter valued at $69,000. Callan Family Office LLC acquired a new position in United Microelectronics in the 4th quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new position in United Microelectronics in the 4th quarter valued at $73,000. Finally, Natural Investments LLC acquired a new position in United Microelectronics in the 4th quarter valued at $74,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on UMC. Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Trading Down 0.1%

Shares of UMC traded down $0.01 during midday trading on Friday, reaching $7.84. The company had a trading volume of 4,509,288 shares, compared to its average volume of 12,695,871. United Microelectronics Co. has a 1-year low of $5.61 and a 1-year high of $9.00. The stock has a market cap of $19.63 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. The firm has a 50 day simple moving average of $6.91 and a 200-day simple moving average of $6.64. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

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 company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $57.63 billion. During the same period last year, the business earned $0.13 earnings per share. The firm's revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that United Microelectronics Co. will post 0.51 EPS for the current fiscal 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.