United Microelectronics (NYSE:UMC) Issues Earnings Results

United Microelectronics (NYSE:UMC) announced its quarterly earnings results on Wednesday. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01), reports. United Microelectronics had a net margin of 24.79% and a return on equity of 15.82%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $7.78 on Friday. The company has a fifty day moving average price of $7.93 and a 200 day moving average price of $7.84. United Microelectronics has a 1-year low of $6.71 and a 1-year high of $8.97. The firm has a market cap of $19.46 billion, a PE ratio of 11.11, a PEG ratio of 2.17 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after acquiring an additional 434,018 shares in the last quarter. UBS Group AG lifted its position in shares of United Microelectronics by 36.1% in the third quarter. UBS Group AG now owns 7,504,275 shares of the semiconductor company’s stock worth $52,980,000 after purchasing an additional 1,990,246 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in United Microelectronics by 8.7% during the fourth quarter. Rafferty Asset Management LLC now owns 4,435,239 shares of the semiconductor company’s stock worth $37,522,000 after purchasing an additional 355,186 shares during the last quarter. Schroder Investment Management Group grew its position in United Microelectronics by 2,256.8% in the fourth quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock valued at $29,414,000 after purchasing an additional 3,329,354 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in United Microelectronics by 16.5% in the 3rd quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock valued at $6,277,000 after buying an additional 125,903 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About United Microelectronics

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.