Vanguard Group Inc. Sells 573,031 Shares of United Microelectronics Corporation $UMC

Vanguard Group Inc. lessened its position in shares of United Microelectronics Corporation (NYSE:UMC) by 3.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,252,440 shares of the semiconductor company’s stock after selling 573,031 shares during the period. Vanguard Group Inc.’s holdings in United Microelectronics were worth $108,033,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Maple Rock Capital Partners Inc. purchased a new stake in shares of United Microelectronics during the 2nd quarter valued at $24,024,000. Rafferty Asset Management LLC increased its position in United Microelectronics by 50.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after buying an additional 2,826,486 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in United Microelectronics by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after buying an additional 537,777 shares during the last quarter. Creative Planning raised its stake in United Microelectronics by 34.0% in the second quarter. Creative Planning now owns 1,689,542 shares of the semiconductor company’s stock valued at $12,925,000 after buying an additional 428,522 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in United Microelectronics in the second quarter worth about $2,427,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $9.90 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.12. United Microelectronics Corporation has a twelve month low of $5.71 and a twelve month high of $12.68. The company’s 50 day moving average is $9.72 and its 200 day moving average is $8.18. The company has a market cap of $24.87 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 5.26 and a beta of 1.08.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.45%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America downgraded shares of United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Finally, BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.60.

United Microelectronics Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.