Moran Wealth Management LLC Cuts Position in United Microelectronics Co. (NYSE:UMC)

Moran Wealth Management LLC lessened its position in shares of United Microelectronics Co. (NYSE:UMC) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,775 shares of the semiconductor company’s stock after selling 85,025 shares during the quarter. Moran Wealth Management LLC’s holdings in United Microelectronics were worth $4,003,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in shares of United Microelectronics in the 3rd quarter worth approximately $37,000. Savant Capital LLC purchased a new position in shares of United Microelectronics in the 4th quarter worth approximately $66,000. Verdence Capital Advisors LLC purchased a new position in shares of United Microelectronics in the 4th quarter worth approximately $69,000. Callan Family Office LLC purchased a new position in shares of United Microelectronics in the 4th quarter worth approximately $70,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of United Microelectronics in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

Shares of UMC stock opened at $6.79 on Tuesday. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The firm has a market capitalization of $17.00 billion, a P/E ratio of 11.70, a P/E/G ratio of 4.44 and a beta of 1.20. The stock has a 50 day moving average price of $6.27 and a 200 day moving average price of $7.11.

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 analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $5.30 earnings per share. United Microelectronics’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that United Microelectronics Co. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

UMC has been the subject of a number of recent research reports. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Citigroup cut United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics 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.