United Microelectronics Corporation (NYSE:UMC – Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $24.17 and last traded at $24.0680, with a volume of 26884603 shares. The stock had previously closed at $21.76.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. Finally, BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus target price of $8.60.
Read Our Latest Stock Report on UMC
United Microelectronics Trading Up 10.6%
United Microelectronics (NYSE:UMC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, analysts expect that United Microelectronics Corporation will post 0.7 earnings per share for the current fiscal year.
Institutional Trading of United Microelectronics
A number of hedge funds and other institutional investors have recently made changes to their positions in UMC. Parallel Advisors LLC lifted its position in shares of United Microelectronics by 3.1% in the first quarter. Parallel Advisors LLC now owns 124,838 shares of the semiconductor company’s stock worth $1,121,000 after purchasing an additional 3,706 shares in the last quarter. NewEdge Advisors LLC grew its position in United Microelectronics by 8,430.6% in the first quarter. NewEdge Advisors LLC now owns 56,558 shares of the semiconductor company’s stock valued at $508,000 after purchasing an additional 55,895 shares in the last quarter. Cozad Asset Management Inc. grew its position in United Microelectronics by 41.6% in the first quarter. Cozad Asset Management Inc. now owns 20,001 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 5,872 shares in the last quarter. Systematic Alpha Investments LLC acquired a new stake in United Microelectronics in the 1st quarter valued at $174,000. Finally, Amundi bought a new stake in United Microelectronics during the 1st quarter worth about $449,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.
United Microelectronics Company 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.
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