Ethic Inc. Acquires 70,597 Shares of United Microelectronics Corporation $UMC

Ethic Inc. grew its holdings in United Microelectronics Corporation (NYSE:UMC) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 495,589 shares of the semiconductor company’s stock after buying an additional 70,597 shares during the quarter. Ethic Inc.’s holdings in United Microelectronics were worth $3,895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Summit Global Investments bought a new stake in United Microelectronics in the third quarter valued at about $1,097,000. North of South Capital LLP bought a new position in United Microelectronics during the third quarter worth about $948,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in United Microelectronics by 3,854.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 168,648 shares of the semiconductor company’s stock worth $1,326,000 after purchasing an additional 164,383 shares during the period. Moran Wealth Management LLC boosted its holdings in United Microelectronics by 13.8% during the fourth quarter. Moran Wealth Management LLC now owns 792,367 shares of the semiconductor company’s stock valued at $6,228,000 after purchasing an additional 95,871 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in United Microelectronics by 102.7% during the third quarter. US Bancorp DE now owns 541,044 shares of the semiconductor company’s stock valued at $4,101,000 after purchasing an additional 274,157 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

United Microelectronics Price Performance

NYSE:UMC opened at $15.41 on Monday. The firm has a market cap of $38.70 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. United Microelectronics Corporation has a 12 month low of $6.56 and a 12 month high of $15.45. The company has a quick ratio of 2.23, a current ratio of 2.72 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $10.36 and its two-hundred day moving average price is $9.21.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, equities analysts anticipate that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UMC shares. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. BNP Paribas Exane raised United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price target on the stock in a research note on Tuesday, March 31st. Finally, Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $8.60.

About United Microelectronics

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.