O Shaughnessy Asset Management LLC Sells 70,542 Shares of United Microelectronics Co. (NYSE:UMC)

O Shaughnessy Asset Management LLC lessened its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 294,810 shares of the semiconductor company’s stock after selling 70,542 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in United Microelectronics were worth $1,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in United Microelectronics by 192.7% in the 3rd quarter. FMR LLC now owns 300,738 shares of the semiconductor company’s stock worth $2,532,000 after purchasing an additional 197,998 shares in the last quarter. Townsquare Capital LLC bought a new position in United Microelectronics in the third quarter worth about $146,000. Glenmede Trust Co. NA lifted its holdings in United Microelectronics by 23.5% in the third quarter. Glenmede Trust Co. NA now owns 24,696 shares of the semiconductor company’s stock worth $208,000 after buying an additional 4,696 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in United Microelectronics by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 327,100 shares of the semiconductor company’s stock valued at $2,754,000 after acquiring an additional 12,100 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of United Microelectronics during the 3rd quarter worth approximately $1,099,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Trading Down 3.0 %

Shares of NYSE UMC opened at $6.25 on Friday. United Microelectronics Co. has a 1 year low of $5.61 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The firm has a 50-day moving average of $6.43 and a 200 day moving average of $6.88. The stock has a market cap of $15.65 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 4.44 and a beta of 1.12.

United Microelectronics (NYSE:UMC) last released its 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 analysts’ expectations of $1.86 billion. United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. United Microelectronics’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.30 earnings per share. As a group, sell-side analysts expect that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

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.