HB Wealth Management LLC Takes $103,000 Position in United Microelectronics Corporation $UMC

HB Wealth Management LLC acquired a new stake in United Microelectronics Corporation (NYSE:UMC) in the 2nd quarter, Holdings Channel reports. The firm acquired 13,471 shares of the semiconductor company’s stock, valued at approximately $103,000.

Several other hedge funds also recently modified their holdings of UMC. Nomura Holdings Inc. increased its stake in shares of United Microelectronics by 360.1% in the 1st quarter. Nomura Holdings Inc. now owns 1,536,660 shares of the semiconductor company’s stock valued at $10,987,000 after acquiring an additional 1,202,660 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of United Microelectronics in the 1st quarter valued at $3,763,000. AQR Capital Management LLC increased its stake in United Microelectronics by 46.1% during the 1st quarter. AQR Capital Management LLC now owns 1,435,628 shares of the semiconductor company’s stock valued at $10,265,000 after purchasing an additional 452,788 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in United Microelectronics by 127.7% during the 1st quarter. Baird Financial Group Inc. now owns 541,176 shares of the semiconductor company’s stock valued at $3,869,000 after purchasing an additional 303,460 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

UMC opened at $7.55 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 4.38 and a beta of 1.24. The firm’s fifty day moving average price is $6.96 and its two-hundred day moving average price is $7.23. United Microelectronics Corporation has a 1 year low of $5.61 and a 1 year high of $8.33.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, analysts anticipate that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, 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.