Schonfeld Strategic Advisors LLC Sells 98,450 Shares of United Microelectronics Co. (NYSE:UMC)

Schonfeld Strategic Advisors LLC lowered its position in United Microelectronics Co. (NYSE:UMC) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,002 shares of the semiconductor company’s stock after selling 98,450 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in United Microelectronics were worth $1,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in United Microelectronics by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock valued at $6,787,000 after purchasing an additional 53,264 shares during the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 8.1% in the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after buying an additional 240,380 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in United Microelectronics by 6.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company’s stock worth $544,000 after acquiring an additional 5,377 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 acquiring an additional 246,034 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of United Microelectronics during the fourth quarter worth approximately $66,000. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Trading Down 0.2 %

UMC opened at $7.39 on Wednesday. The firm has a 50 day simple moving average of $6.75 and a 200 day simple moving average of $6.64. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00. The company has a market cap of $18.51 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $57.63 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UMC shares. Wedbush cut shares of United Microelectronics from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 16th. Citigroup raised United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.