United Microelectronics Co. (NYSE:UMC) Position Increased by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC increased its position in shares of United Microelectronics Co. (NYSE:UMC) by 73.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,373 shares of the semiconductor company’s stock after buying an additional 8,227 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in United Microelectronics were worth $149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of UMC. GAMMA Investing LLC bought a new position in United Microelectronics during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in United Microelectronics by 19.8% during the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,514 shares during the period. Optas LLC bought a new position in United Microelectronics during the fourth quarter valued at about $89,000. Coldstream Capital Management Inc. bought a new stake in shares of United Microelectronics in the 3rd quarter valued at approximately $76,000. Finally, Cherrydale Wealth Management LLC bought a new stake in United Microelectronics during the 4th quarter worth approximately $93,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday, April 24th. HSBC upgraded United Microelectronics from a “reduce” rating to a “hold” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price for the company. in a research note on Tuesday, January 16th.

United Microelectronics Stock Up 4.1 %

UMC stock traded up $0.31 during trading on Thursday, reaching $7.86. The stock had a trading volume of 4,474,152 shares, compared to its average volume of 7,962,862. United Microelectronics Co. has a one year low of $6.71 and a one year high of $8.97. The company has a quick ratio of 1.78, a current ratio of 2.13 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $7.93 and its two-hundred day moving average is $7.86. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 2.23 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. United Microelectronics had a return on equity of 15.97% and a net margin of 24.79%. Equities research analysts forecast that United Microelectronics Co. will post 0.59 EPS for the current year.

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.