Intelligence Driven Advisers LLC Purchases 8,227 Shares of United Microelectronics Co. (NYSE:UMC)

Intelligence Driven Advisers LLC lifted its position in shares of United Microelectronics Co. (NYSE:UMC) by 73.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,373 shares of the semiconductor company’s stock after buying an additional 8,227 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in United Microelectronics were worth $149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of United Microelectronics during the 4th quarter worth $5,671,000. Rhumbline Advisers boosted its position in United Microelectronics by 16.5% during the third quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock valued at $6,277,000 after purchasing an additional 125,903 shares in the last quarter. NewEdge Wealth LLC boosted its position in United Microelectronics by 46.4% during the third quarter. NewEdge Wealth LLC now owns 259,465 shares of the semiconductor company’s stock valued at $1,832,000 after purchasing an additional 82,245 shares in the last quarter. Simon Quick Advisors LLC bought a new stake in United Microelectronics during the fourth quarter valued at about $109,000. Finally, Signaturefd LLC raised its stake in United Microelectronics by 4.4% in the third quarter. Signaturefd LLC now owns 218,484 shares of the semiconductor company’s stock valued at $1,542,000 after buying an additional 9,134 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

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

United Microelectronics Stock Up 4.1 %

Shares of NYSE UMC traded up $0.31 during midday trading on Thursday, reaching $7.86. 4,474,152 shares of the company’s stock were exchanged, compared to its average volume of 7,962,862. 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’s fifty day moving average price is $7.93 and its two-hundred day moving average price is $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 $19.66 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 2.23 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results 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). United Microelectronics had a net margin of 24.79% and a return on equity of 15.97%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Analysts forecast that United Microelectronics Co. will post 0.59 EPS for the current year.

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.