Jennison Associates LLC Buys New Position in United Microelectronics Co. (NYSE:UMC)

Jennison Associates LLC bought a new stake in United Microelectronics Co. (NYSE:UMC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 670,359 shares of the semiconductor company’s stock, valued at approximately $5,671,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC grew its position in United Microelectronics by 29.8% during the fourth quarter. CWM LLC now owns 17,062 shares of the semiconductor company’s stock valued at $144,000 after acquiring an additional 3,913 shares during the last quarter. Signaturefd LLC grew its position in United Microelectronics by 4.5% during the fourth quarter. Signaturefd LLC now owns 228,319 shares of the semiconductor company’s stock valued at $1,932,000 after acquiring an additional 9,835 shares during the last quarter. Lindbrook Capital LLC grew its position in United Microelectronics by 12.1% during the fourth quarter. Lindbrook Capital LLC now owns 33,445 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 3,612 shares during the last quarter. NewEdge Wealth LLC grew its position in United Microelectronics by 51.4% during the fourth quarter. NewEdge Wealth LLC now owns 392,923 shares of the semiconductor company’s stock valued at $3,324,000 after acquiring an additional 133,458 shares during the last quarter. Finally, Sapient Capital LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $95,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Up 0.3 %

Shares of NYSE UMC opened at $7.78 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.13. United Microelectronics Co. has a 12 month low of $6.71 and a 12 month high of $8.97. The firm has a market capitalization of $19.46 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 2.17 and a beta of 1.21. The firm has a fifty day simple moving average of $7.93 and a two-hundred day simple moving average of $7.84.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Equities analysts expect that United Microelectronics Co. will post 0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UMC shares. Citigroup upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday. HSBC upgraded shares of United Microelectronics from a “reduce” rating to a “hold” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price on the stock. in a report on Tuesday, January 16th.

United Microelectronics Company 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.