Drive Wealth Management LLC Boosts Position in United Microelectronics Co. (NYSE:UMC)

Drive Wealth Management LLC increased its position in United Microelectronics Co. (NYSE:UMCFree Report) by 18.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,770 shares of the semiconductor company’s stock after purchasing an additional 2,580 shares during the period. Drive Wealth Management LLC’s holdings in United Microelectronics were worth $142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UMC. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in United Microelectronics by 185.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,275 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 2,775 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in United Microelectronics in the second quarter worth $36,000. Quantbot Technologies LP purchased a new stake in United Microelectronics in the first quarter worth $36,000. Tower Research Capital LLC TRC grew its stake in United Microelectronics by 222.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 3,802 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in United Microelectronics by 19.8% in the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,514 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price on the stock. in a report on Tuesday, January 16th.

View Our Latest Stock Analysis on United Microelectronics

United Microelectronics Trading Down 0.2 %

United Microelectronics stock opened at $8.11 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $7.75. United Microelectronics Co. has a 12 month low of $6.71 and a 12 month high of $8.97. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21.

United Microelectronics (NYSE:UMCGet Free Report) last released its earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, equities analysts predict that United Microelectronics Co. will post 0.63 earnings per share for the current fiscal year.

About United Microelectronics

(Free Report)

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.

Further Reading

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Institutional Ownership by Quarter for United Microelectronics (NYSE:UMC)

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