Summit Global Investments Makes New $2.64 Million Investment in United Microelectronics Co. (NYSE:UMC)

Summit Global Investments bought a new stake in United Microelectronics Co. (NYSE:UMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 311,527 shares of the semiconductor company’s stock, valued at approximately $2,636,000.

A number of other large investors have also recently made changes to their positions in the company. Schechter Investment Advisors LLC lifted its holdings in shares of United Microelectronics by 5.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 1,452 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of United Microelectronics by 19.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,514 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in United Microelectronics by 2.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock worth $518,000 after acquiring an additional 1,671 shares during the period. Inspire Advisors LLC grew its position in shares of United Microelectronics by 19.6% in the third quarter. Inspire Advisors LLC now owns 13,393 shares of the semiconductor company’s stock valued at $95,000 after purchasing an additional 2,198 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in United Microelectronics by 2.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 100,839 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 2,246 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on UMC. The Goldman Sachs Group cut 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. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research report on Thursday, January 25th.

United Microelectronics Trading Up 3.9 %

UMC stock traded up $0.30 during midday trading on Friday, reaching $8.15. 9,963,849 shares of the company’s stock traded hands, compared to its average volume of 8,019,006. United Microelectronics Co. has a fifty-two week low of $6.71 and a fifty-two week high of $8.97. The business has a 50-day moving average price of $7.94 and a two-hundred day moving average price of $7.86. The company has a market capitalization of $20.37 billion, a P/E ratio of 11.64, a PEG ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.13 and a quick ratio of 1.78.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a net margin of 24.79% and a return on equity of 15.97%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. Equities research analysts forecast that United Microelectronics Co. will post 0.59 EPS for the current fiscal 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.