Foster Group Inc. Reduces Holdings in United Microelectronics Co. (NYSE:UMC)

Foster Group Inc. lowered its position in United Microelectronics Co. (NYSE:UMC) by 63.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,636 shares of the semiconductor company’s stock after selling 22,145 shares during the period. Foster Group Inc.’s holdings in United Microelectronics were worth $82,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Genesis Investment Management LLP lifted its position in United Microelectronics by 12.2% during the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after buying an additional 474,004 shares in the last quarter. State Street Corp raised its holdings in shares of United Microelectronics by 1.5% during the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after acquiring an additional 53,105 shares during the period. Barclays PLC boosted its position in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after acquiring an additional 240,380 shares during the last quarter. Two Sigma Advisers LP increased its position in United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 970,600 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in United Microelectronics by 16.5% during the third quarter. BNP Paribas Financial Markets now owns 1,186,187 shares of the semiconductor company’s stock worth $9,988,000 after purchasing an additional 168,399 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Price Performance

UMC stock opened at $5.73 on Thursday. The business’s fifty day moving average price is $6.47 and its 200 day moving average price is $7.49. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The company has a market capitalization of $14.35 billion, a PE ratio of 9.88, a P/E/G ratio of 3.88 and a beta of 1.17. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.30 EPS. On average, sell-side analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UMC shares. Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a report on Thursday, October 17th. Finally, StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, United Microelectronics presently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Company Profile

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.