Desjardins Global Asset Management Inc. Decreases Holdings in United Microelectronics Co. (NYSE:UMC)

Desjardins Global Asset Management Inc. trimmed its position in shares of United Microelectronics Co. (NYSE:UMC) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,680 shares of the semiconductor company’s stock after selling 2,489 shares during the period. Desjardins Global Asset Management Inc.’s holdings in United Microelectronics were worth $285,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in United Microelectronics in the 1st quarter worth approximately $36,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in United Microelectronics by 185.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,275 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 2,775 shares during the period. Tower Research Capital LLC TRC increased its stake in United Microelectronics by 222.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,514 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 3,802 shares during the period. EverSource Wealth Advisors LLC increased its stake in United Microelectronics by 19.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,514 shares during the period. Finally, BOKF NA purchased a new position in United Microelectronics in the 4th quarter worth approximately $68,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Price Performance

UMC opened at $7.53 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.83 and a current ratio of 2.19. United Microelectronics Co. has a 52-week low of $6.71 and a 52-week high of $8.97. The stock has a market capitalization of $18.82 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.21. The stock’s 50 day moving average price is $7.97 and its 200-day moving average price is $7.81.

United Microelectronics (NYSE:UMC) last posted its earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that United Microelectronics Co. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on UMC. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price target on the stock. in a research note on Tuesday, January 16th. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

United Microelectronics Company Profile

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.