Raymond James & Associates Lowers Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Raymond James & Associates reduced its holdings in United Microelectronics Co. (NYSE:UMC) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,294 shares of the semiconductor company’s stock after selling 8,165 shares during the period. Raymond James & Associates’ holdings in United Microelectronics were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cherrydale Wealth Management LLC acquired a new stake in United Microelectronics in the 4th quarter valued at $93,000. Albar Capital Ltd purchased a new stake in shares of United Microelectronics during the third quarter worth about $966,000. MQS Management LLC acquired a new position in shares of United Microelectronics during the 3rd quarter worth about $242,000. O Shaughnessy Asset Management LLC lifted its stake in United Microelectronics by 3.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 326,775 shares of the semiconductor company’s stock valued at $2,307,000 after buying an additional 10,321 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in United Microelectronics by 32.3% in the 3rd quarter. Natixis Advisors L.P. now owns 142,060 shares of the semiconductor company’s stock worth $1,003,000 after buying an additional 34,718 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Up 0.3 %

Shares of NYSE:UMC opened at $7.78 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. United Microelectronics Co. has a 52-week low of $6.71 and a 52-week high of $8.97. The business has a fifty day moving average of $7.93 and a two-hundred day moving average of $7.84. The stock has a market cap of $19.46 billion, a P/E ratio of 11.11, a PEG ratio of 2.18 and a beta of 1.21.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Microelectronics had a net margin of 24.79% and a return on equity of 15.82%. On average, research analysts expect that United Microelectronics Co. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

UMC has been the topic of several research reports. 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 research report on Tuesday, January 16th. HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th. Finally, Citigroup upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Wednesday.

About United Microelectronics

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.