Desjardins Global Asset Management Inc. Sells 2,489 Shares of United Microelectronics Co. (NYSE:UMC)

Desjardins Global Asset Management Inc. cut its position in shares of United Microelectronics Co. (NYSE:UMC) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,680 shares of the semiconductor company’s stock after selling 2,489 shares during the period. Desjardins Global Asset Management Inc.’s holdings in United Microelectronics were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UMC. Macquarie Group Ltd. bought a new position in United Microelectronics during the first quarter valued at approximately $81,057,000. UBS Group AG lifted its stake in shares of United Microelectronics by 36.1% in the 3rd quarter. UBS Group AG now owns 7,504,275 shares of the semiconductor company’s stock valued at $52,980,000 after purchasing an additional 1,990,246 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of United Microelectronics by 116.4% in the 1st quarter. Bank of America Corp DE now owns 3,583,323 shares of the semiconductor company’s stock valued at $31,390,000 after purchasing an additional 1,927,333 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of United Microelectronics by 15.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,219,342 shares of the semiconductor company’s stock valued at $115,801,000 after purchasing an additional 1,732,067 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of United Microelectronics by 3,598.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,028,718 shares of the semiconductor company’s stock valued at $7,263,000 after purchasing an additional 1,000,900 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

United Microelectronics Trading Down 0.9 %

Shares of NYSE UMC opened at $7.53 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.83 and a current ratio of 2.19. The business’s 50 day moving average price is $7.97 and its 200-day moving average price is $7.81. United Microelectronics Co. has a fifty-two week low of $6.71 and a fifty-two week high of $8.97. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 2.04 and a beta of 1.21.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business posted $0.25 earnings per share. On average, sell-side analysts expect that United Microelectronics Co. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on UMC shares. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price objective for the company. in a research note on Tuesday, January 16th.

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.