First Trust Direct Indexing L.P. Increases Stake in United Microelectronics Co. (NYSE:UMC)

First Trust Direct Indexing L.P. grew its position in shares of United Microelectronics Co. (NYSE:UMC) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,129 shares of the semiconductor company’s stock after buying an additional 23,290 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in United Microelectronics were worth $1,600,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in United Microelectronics during the 4th quarter worth $5,671,000. Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 125,903 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of United Microelectronics by 46.4% in the 3rd quarter. NewEdge Wealth LLC now owns 259,465 shares of the semiconductor company’s stock valued at $1,832,000 after purchasing an additional 82,245 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in shares of United Microelectronics in the 4th quarter valued at about $109,000. Finally, Signaturefd LLC increased its holdings in shares of United Microelectronics by 4.4% in the 3rd quarter. Signaturefd LLC now owns 218,484 shares of the semiconductor company’s stock valued at $1,542,000 after purchasing an additional 9,134 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities 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, April 24th. The Goldman Sachs Group downgraded shares of 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, HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

United Microelectronics Price Performance

NYSE UMC traded up $0.16 during trading hours on Thursday, reaching $7.71. The company’s stock had a trading volume of 1,054,615 shares, compared to its average volume of 7,919,651. The stock has a market cap of $19.28 billion, a PE ratio of 10.79, a PEG ratio of 2.23 and a beta of 1.20. United Microelectronics Co. has a fifty-two week low of $6.71 and a fifty-two week high of $8.97. The company’s 50-day moving average is $7.93 and its two-hundred day moving average is $7.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.78 and a current ratio of 2.13.

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 analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. United Microelectronics had a net margin of 24.79% and a return on equity of 15.97%. Analysts forecast that United Microelectronics Co. will post 0.59 EPS for the current year.

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.