Quadrant Capital Group LLC grew its stake in shares of United Microelectronics Corp (NYSE:UMC) by 78.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,627 shares of the semiconductor company’s stock after acquiring an additional 134,074 shares during the quarter. Quadrant Capital Group LLC’s holdings in United Microelectronics were worth $573,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of United Microelectronics by 38.1% during the 1st quarter. Lindbrook Capital LLC now owns 19,461 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 5,367 shares during the period. Navellier & Associates Inc grew its holdings in shares of United Microelectronics by 43.3% during the 4th quarter. Navellier & Associates Inc now owns 21,190 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 6,403 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of United Microelectronics by 8.0% during the 4th quarter. Wetherby Asset Management Inc. now owns 225,397 shares of the semiconductor company’s stock worth $403,000 after purchasing an additional 16,673 shares during the period. Bank of America Corp DE grew its holdings in shares of United Microelectronics by 33.3% during the 4th quarter. Bank of America Corp DE now owns 70,957 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 17,744 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in shares of United Microelectronics during the 4th quarter worth about $32,000. 5.17% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the company. Goldman Sachs Group began coverage on United Microelectronics in a report on Tuesday, May 7th. They set a “sell” rating for the company. HSBC upgraded United Microelectronics from a “reduce” rating to a “hold” rating in a report on Wednesday, April 24th. Credit Suisse Group upgraded United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upgraded United Microelectronics from an “underweight” rating to a “neutral” rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. United Microelectronics has a consensus rating of “Hold” and an average target price of $2.19.
NYSE UMC traded down $0.02 on Wednesday, reaching $1.99. The company had a trading volume of 318,959 shares, compared to its average volume of 612,943. The stock has a market cap of $5.04 billion, a PE ratio of 29.00 and a beta of 0.87. United Microelectronics Corp has a 1 year low of $1.64 and a 1 year high of $3.14. The company has a quick ratio of 2.43, a current ratio of 2.79 and a debt-to-equity ratio of 0.34.
United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. United Microelectronics had a return on equity of 2.31% and a net margin of 3.33%. The company had revenue of $32.58 billion for the quarter, compared to analyst estimates of $32.76 billion. During the same period in the prior year, the company posted $0.28 EPS. United Microelectronics’s quarterly revenue was down 13.1% on a year-over-year basis.
About United Microelectronics
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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