United Microelectronics Corporation $UMC Stock Sold by Matthews International Capital Management LLC

Matthews International Capital Management LLC lessened its position in United Microelectronics Corporation (NYSE:UMC) by 68.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 466,332 shares of the semiconductor company’s stock after selling 999,362 shares during the period. United Microelectronics comprises approximately 4.7% of Matthews International Capital Management LLC’s holdings, making the stock its 6th biggest holding. Matthews International Capital Management LLC’s holdings in United Microelectronics were worth $11,420,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Euro Pacific Asset Management LLC increased its position in shares of United Microelectronics by 2.9% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 18,333 shares of the semiconductor company’s stock worth $449,000 after purchasing an additional 519 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in United Microelectronics by 27.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,313 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 720 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in United Microelectronics by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 15,957 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 762 shares during the last quarter. Eastern Bank boosted its position in United Microelectronics by 9.9% in the third quarter. Eastern Bank now owns 8,483 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 763 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in United Microelectronics by 6.5% in the third quarter. Valeo Financial Advisors LLC now owns 12,875 shares of the semiconductor company’s stock valued at $315,000 after buying an additional 782 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

Shares of UMC stock opened at $15.02 on Wednesday. The stock’s fifty day moving average is $21.06 and its 200-day moving average is $17.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.75 and a current ratio of 3.27. The stock has a market capitalization of $37.82 billion, a PE ratio of 13.79, a PEG ratio of 0.42 and a beta of 1.76. United Microelectronics Corporation has a 52 week low of $6.97 and a 52 week high of $28.96.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). United Microelectronics had a net margin of 31.96% and a return on equity of 20.12%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.33 billion. Equities research analysts expect that United Microelectronics Corporation will post 1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Arete Research raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Monday, August 10th. Weiss Ratings cut shares of United Microelectronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Zacks Research downgraded United Microelectronics from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, HSBC raised United Microelectronics from a “hold” rating to a “buy” rating and reduced their target price for the stock from $37.42 to $33.76 in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $36.79.

United Microelectronics Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. It provides wafer fabrication and related services to fabless chip designers and integrated device manufacturers, rather than selling its own branded semiconductor products. Founded in 1980, UMC was Taiwan’s first semiconductor company. Its manufacturing and technology offerings serve applications including communications, consumer electronics, computing, automotive and industrial products.