Parallel Advisors LLC Sells 27,774 Shares of United Microelectronics Co. (NYSE:UMC)

Parallel Advisors LLC decreased its stake in shares of United Microelectronics Co. (NYSE:UMC) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,346 shares of the semiconductor company’s stock after selling 27,774 shares during the period. Parallel Advisors LLC’s holdings in United Microelectronics were worth $528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $66,000. MML Investors Services LLC bought a new position in United Microelectronics during the third quarter valued at approximately $86,000. Synovus Financial Corp bought a new position in United Microelectronics during the third quarter valued at approximately $89,000. Verdence Capital Advisors LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $69,000. Finally, Callan Family Office LLC bought a new position in United Microelectronics in the fourth quarter worth approximately $70,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Down 1.7 %

UMC opened at $6.75 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 1-year low of $5.61 and a 1-year high of $9.00. The company has a market capitalization of $16.90 billion, a PE ratio of 11.63, a PEG ratio of 4.44 and a beta of 1.20. The firm’s 50 day simple moving average is $6.30 and its two-hundred day simple moving average is $7.02.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $5.30 earnings per share. As a group, equities analysts forecast that United Microelectronics Co. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, United Microelectronics presently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Company 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.