United Microelectronics Co. (NYSE:UMC) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its position in shares of United Microelectronics Co. (NYSE:UMC) by 10.3% during the first quarter, HoldingsChannel reports. The fund owned 15,044 shares of the semiconductor company’s stock after selling 1,726 shares during the quarter. Drive Wealth Management LLC’s holdings in United Microelectronics were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UMC. HB Wealth Management LLC acquired a new position in United Microelectronics during the third quarter worth about $82,000. Ballentine Partners LLC grew its position in United Microelectronics by 9.2% during the third quarter. Ballentine Partners LLC now owns 76,473 shares of the semiconductor company’s stock worth $540,000 after buying an additional 6,473 shares during the period. PDS Planning Inc grew its position in United Microelectronics by 5.2% during the third quarter. PDS Planning Inc now owns 52,768 shares of the semiconductor company’s stock worth $373,000 after buying an additional 2,593 shares during the period. Commonwealth Equity Services LLC grew its position in United Microelectronics by 26.5% during the third quarter. Commonwealth Equity Services LLC now owns 76,151 shares of the semiconductor company’s stock worth $538,000 after buying an additional 15,949 shares during the period. Finally, SVB Wealth LLC grew its position in United Microelectronics by 9.6% during the third quarter. SVB Wealth LLC now owns 63,048 shares of the semiconductor company’s stock worth $445,000 after buying an additional 5,530 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Trading Up 0.4 %

Shares of UMC traded up $0.03 on Friday, hitting $7.79. 10,510,385 shares of the stock traded hands, compared to its average volume of 8,521,722. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $19.48 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.18 and a beta of 1.21. The stock’s 50 day moving average is $7.93 and its two-hundred day moving average is $7.85. United Microelectronics Co. has a 1 year low of $6.71 and a 1 year high of $8.97.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Microelectronics had a net margin of 24.79% and a return on equity of 15.82%. As a group, sell-side analysts predict that United Microelectronics Co. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on UMC shares. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price target on the stock. in a report on Tuesday, January 16th. Citigroup raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

United Microelectronics 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.