Verdence Capital Advisors LLC Acquires New Holdings in United Microelectronics Co. (NYSE:UMC)

Verdence Capital Advisors LLC bought a new position in United Microelectronics Co. (NYSE:UMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,626 shares of the semiconductor company’s stock, valued at approximately $69,000.

Other hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP lifted its stake in shares of United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after purchasing an additional 970,600 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of United Microelectronics by 178.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 383,842 shares of the semiconductor company’s stock worth $2,506,000 after buying an additional 246,034 shares during the last quarter. Barclays PLC boosted its stake in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after acquiring an additional 240,380 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of United Microelectronics by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company’s stock valued at $47,379,000 after acquiring an additional 237,024 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of United Microelectronics in the 3rd quarter valued at approximately $1,915,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Trading Up 1.3 %

United Microelectronics stock opened at $6.75 on Friday. The business’s 50-day simple moving average is $6.26 and its 200-day simple moving average is $7.15. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The firm 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 company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

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

Analyst Upgrades and Downgrades

UMC has been the subject of a number of recent analyst reports. Citigroup cut United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.40.

About United Microelectronics

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.