United Microelectronics Co. (NYSE:UMC) Shares Sold by Canopy Partners LLC

Canopy Partners LLC lowered its position in United Microelectronics Co. (NYSE:UMC) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,804 shares of the semiconductor company’s stock after selling 2,033 shares during the period. Canopy Partners LLC’s holdings in United Microelectronics were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of United Microelectronics in the fourth quarter valued at approximately $1,306,000. OLD Mission Capital LLC increased its holdings in shares of United Microelectronics by 14.4% in the 4th quarter. OLD Mission Capital LLC now owns 162,384 shares of the semiconductor company’s stock valued at $1,054,000 after purchasing an additional 20,471 shares in the last quarter. Wellington Management Group LLP purchased a new stake in United Microelectronics during the fourth quarter worth about $379,000. JPMorgan Chase & Co. grew its position in United Microelectronics by 150.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company’s stock worth $13,122,000 after buying an additional 1,215,849 shares during the period. Finally, Mizuho Securities Co. Ltd. increased its holdings in United Microelectronics by 81.8% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 53,335 shares of the semiconductor company’s stock valued at $347,000 after buying an additional 24,000 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $6.12 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $6.44 and its 200 day moving average price is $6.85. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 4.44 and a beta of 1.12.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 12.78% and a net margin of 20.35%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business earned $5.30 earnings per share. As a group, research analysts forecast that United Microelectronics Co. will post 0.51 earnings per share 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.