Shares of United Microelectronics Corporation (NYSE:UMC – Get Free Report) shot up 15.8% during mid-day trading on Monday . The stock traded as high as $28.07 and last traded at $27.8810. Approximately 5,304,085 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 12,881,651 shares. The stock had previously closed at $24.08.
Analyst Ratings Changes
UMC has been the topic of a number of recent research reports. BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. Finally, Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $8.60.
Get Our Latest Stock Report on United Microelectronics
United Microelectronics Trading Up 14.4%
United Microelectronics (NYSE:UMC – Get Free Report) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, beating 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 firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Equities analysts expect that United Microelectronics Corporation will post 0.7 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in shares of United Microelectronics by 873.8% during the 4th quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company’s stock valued at $74,389,000 after purchasing an additional 8,492,466 shares during the last quarter. Two Sigma Investments LP lifted its stake in United Microelectronics by 832.5% in the 3rd quarter. Two Sigma Investments LP now owns 3,530,564 shares of the semiconductor company’s stock valued at $26,762,000 after purchasing an additional 3,151,936 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of United Microelectronics by 50.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after acquiring an additional 2,826,486 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of United Microelectronics during the third quarter valued at about $21,235,000. Finally, Balyasny Asset Management L.P. boosted its position in United Microelectronics by 2,011.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,980,820 shares of the semiconductor company’s stock worth $15,569,000 after buying an additional 1,886,996 shares during the period. Institutional investors own 5.05% of the company’s stock.
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.
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