United Microelectronics Co. (NYSE:UMC) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC trimmed its holdings in United Microelectronics Co. (NYSE:UMC) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,036 shares of the semiconductor company’s stock after selling 2,631 shares during the quarter. Bridgefront Capital LLC’s holdings in United Microelectronics were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMC. Balyasny Asset Management L.P. acquired a new stake in shares of United Microelectronics during the fourth quarter worth $1,411,000. Baird Financial Group Inc. lifted its stake in shares of United Microelectronics by 24.3% in the 4th quarter. Baird Financial Group Inc. now owns 237,716 shares of the semiconductor company’s stock worth $1,543,000 after acquiring an additional 46,540 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of United Microelectronics in the fourth quarter valued at about $539,000. Mercer Global Advisors Inc. ADV increased its stake in shares of United Microelectronics by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company’s stock worth $233,000 after acquiring an additional 1,599 shares during the period. Finally, AQR Capital Management LLC lifted its position in United Microelectronics by 958.3% in the fourth quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company’s stock valued at $6,379,000 after purchasing an additional 889,972 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup upgraded shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, March 21st. Wedbush lowered United Microelectronics from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Down 1.1 %

Shares of NYSE UMC opened at $7.39 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.51 billion, a PE ratio of 12.73, a P/E/G ratio of 4.44 and a beta of 1.13. The firm has a fifty day moving average of $6.79 and a 200-day moving average of $6.64. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $57.63 billion. During the same period in the prior year, the business posted $0.13 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current year.

United Microelectronics Company Profile

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.