Jennison Associates LLC Makes New Investment in United Microelectronics Co. (NYSE:UMC)

Jennison Associates LLC acquired a new position in shares of United Microelectronics Co. (NYSE:UMC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 670,359 shares of the semiconductor company’s stock, valued at approximately $5,671,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UBS Group AG lifted its position in shares of United Microelectronics by 36.1% during the third quarter. UBS Group AG now owns 7,504,275 shares of the semiconductor company’s stock worth $52,980,000 after purchasing an additional 1,990,246 shares during the last quarter. Rhumbline Advisers lifted its position in shares of United Microelectronics by 16.5% during the third quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock worth $6,277,000 after purchasing an additional 125,903 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of United Microelectronics by 87.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 470,900 shares of the semiconductor company’s stock worth $3,325,000 after purchasing an additional 219,500 shares during the last quarter. Virtus Family Office LLC raised its holdings in shares of United Microelectronics by 17.3% in the third quarter. Virtus Family Office LLC now owns 430,753 shares of the semiconductor company’s stock valued at $3,041,000 after acquiring an additional 63,567 shares in the last quarter. Finally, NewEdge Wealth LLC raised its holdings in shares of United Microelectronics by 51.4% in the fourth quarter. NewEdge Wealth LLC now owns 392,923 shares of the semiconductor company’s stock valued at $3,324,000 after acquiring an additional 133,458 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UMC has been the subject of several recent research reports. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price objective for the company. in a report on Tuesday, January 16th. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, HSBC upgraded United Microelectronics from a “reduce” rating to a “hold” rating in a report on Thursday, January 25th.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $7.78 on Friday. The company has a market capitalization of $19.46 billion, a PE ratio of 11.11, a P/E/G ratio of 2.17 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.83 and a current ratio of 2.19. The company has a 50-day simple moving average of $7.93 and a two-hundred day simple moving average of $7.84. United Microelectronics Co. has a one year low of $6.71 and a one year high of $8.97.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. Research analysts expect that United Microelectronics Co. will post 0.61 EPS for the current fiscal year.

United Microelectronics 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.