United Microelectronics Corporation $UMC Stock Holdings Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of United Microelectronics Corporation (NYSE:UMC) by 63.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 608,033 shares of the semiconductor company’s stock after selling 1,060,813 shares during the quarter. JPMorgan Chase & Co.’s holdings in United Microelectronics were worth $4,609,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new position in United Microelectronics in the 2nd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. raised its stake in United Microelectronics by 313.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 3,234 shares during the period. MGO One Seven LLC purchased a new stake in shares of United Microelectronics in the third quarter valued at $77,000. Euro Pacific Asset Management LLC purchased a new stake in shares of United Microelectronics in the third quarter valued at $80,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of United Microelectronics in the second quarter worth $82,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UMC. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. BNP Paribas Exane upgraded United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price objective for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.60.

United Microelectronics Trading Down 3.4%

NYSE:UMC opened at $8.67 on Friday. The company has a market capitalization of $21.77 billion, a P/E ratio of 16.05, a P/E/G ratio of 4.77 and a beta of 1.16. The stock’s 50 day moving average price is $9.92 and its 200 day moving average price is $8.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34. United Microelectronics Corporation has a 52 week low of $5.71 and a 52 week high of $12.68.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.45%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, research analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.