Wellington Management Group LLP Makes New Investment in United Microelectronics Co. (NYSE:UMC)

Wellington Management Group LLP acquired a new stake in United Microelectronics Co. (NYSE:UMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 58,333 shares of the semiconductor company's stock, valued at approximately $379,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LPL Financial LLC boosted its stake in United Microelectronics by 3.3% during the fourth quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock worth $401,000 after buying an additional 1,963 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in shares of United Microelectronics by 3.5% in the fourth quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company's stock valued at $484,000 after purchasing an additional 2,500 shares during the period. DGS Capital Management LLC grew its stake in shares of United Microelectronics by 2.7% in the 3rd quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company's stock valued at $878,000 after buying an additional 2,712 shares during the period. PDS Planning Inc grew its position in United Microelectronics by 5.5% in the fourth quarter. PDS Planning Inc now owns 57,828 shares of the semiconductor company's stock worth $375,000 after acquiring an additional 3,001 shares during the period. Finally, Caprock Group LLC increased its stake in United Microelectronics by 2.4% during the fourth quarter. Caprock Group LLC now owns 129,033 shares of the semiconductor company's stock worth $837,000 after acquiring an additional 3,013 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Price Performance

Shares of United Microelectronics stock traded down $0.05 during trading on Friday, reaching $6.81. The company's stock had a trading volume of 13,567,300 shares, compared to its average volume of 12,443,668. The business has a 50 day moving average price of $6.60 and a 200-day moving average price of $6.73. The company has a market capitalization of $17.05 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 4.44 and a beta of 1.12. 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 Co. has a 12-month low of $5.61 and a 12-month high of $9.00.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.86 billion. United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.30 EPS. As a group, sell-side analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current year.

United Microelectronics Company Profile

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.