United Microelectronics Co. (NYSE:UMC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of United Microelectronics Co. (NYSE:UMCGet Rating) by 40.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,316,534 shares of the semiconductor company’s stock after selling 2,988,000 shares during the quarter. Renaissance Technologies LLC owned about 0.17% of United Microelectronics worth $50,503,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bellevue Group AG acquired a new position in United Microelectronics during the 4th quarter worth $32,000. Captrust Financial Advisors lifted its holdings in shares of United Microelectronics by 83.5% in the third quarter. Captrust Financial Advisors now owns 2,799 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 1,274 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of United Microelectronics in the fourth quarter valued at $55,000. CWM LLC acquired a new stake in shares of United Microelectronics in the fourth quarter valued at $92,000. Finally, Intelligence Driven Advisers LLC acquired a new stake in shares of United Microelectronics in the fourth quarter valued at $117,000. Institutional investors own 4.72% of the company’s stock.

UMC has been the subject of several research analyst reports. Zacks Investment Research upgraded United Microelectronics from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a report on Saturday, April 30th. Nomura lowered United Microelectronics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 25th. Finally, StockNews.com raised United Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.28.

Shares of United Microelectronics stock opened at $8.55 on Friday. The firm has a market capitalization of $21.24 billion, a PE ratio of 8.91 and a beta of 1.04. United Microelectronics Co. has a 12-month low of $7.49 and a 12-month high of $12.68. The company has a quick ratio of 1.94, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $8.55 and its 200-day moving average is $9.95.

United Microelectronics (NYSE:UMCGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.23 billion. United Microelectronics had a return on equity of 25.47% and a net margin of 28.39%. Analysts expect that United Microelectronics Co. will post 1.26 EPS for the current year.

About United Microelectronics (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for United Microelectronics (NYSE:UMC)

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