Y Intercept Hong Kong Ltd Sells 875,038 Shares of United Microelectronics Corporation $UMC

Y Intercept Hong Kong Ltd lowered its position in shares of United Microelectronics Corporation (NYSE:UMC) by 90.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 95,369 shares of the semiconductor company’s stock after selling 875,038 shares during the period. Y Intercept Hong Kong Ltd’s holdings in United Microelectronics were worth $723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UMC. Smartleaf Asset Management LLC purchased a new position in shares of United Microelectronics during the 2nd quarter valued at $27,000. Euro Pacific Asset Management LLC purchased a new position in United Microelectronics during the third quarter worth about $80,000. Wealth Alliance LLC bought a new position in United Microelectronics in the 2nd quarter worth about $77,000. MGO One Seven LLC purchased a new stake in shares of United Microelectronics in the 3rd quarter valued at about $77,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of United Microelectronics in the 2nd quarter valued at about $82,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UMC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Exane BNP Paribas raised shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. BNP Paribas Exane lowered shares of United Microelectronics from a “neutral” rating to an “underperform” rating and set a $8.60 price target on the stock. in a report on Wednesday, January 28th. Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Bank of America lowered shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.60.

United Microelectronics Trading Down 1.5%

UMC stock opened at $10.03 on Tuesday. The company has a market capitalization of $25.18 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 5.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.92 and a current ratio of 2.34. United Microelectronics Corporation has a one year low of $5.71 and a one year high of $12.68. The company’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $7.69.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.59%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. As a group, analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

United Microelectronics 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.