Savvy Advisors Inc. Invests $86,000 in United Microelectronics Co. (NYSE:UMC)

Savvy Advisors Inc. purchased a new stake in United Microelectronics Co. (NYSE:UMC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,256 shares of the semiconductor company’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Savant Capital LLC purchased a new position in United Microelectronics in the fourth quarter valued at about $66,000. MML Investors Services LLC acquired a new position in United Microelectronics during the third quarter worth $86,000. Synovus Financial Corp purchased a new stake in United Microelectronics during the third quarter worth $89,000. Verdence Capital Advisors LLC acquired a new stake in United Microelectronics in the fourth quarter valued at $69,000. Finally, Callan Family Office LLC purchased a new position in shares of United Microelectronics in the fourth quarter valued at $70,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup raised shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

United Microelectronics stock opened at $6.93 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00. The stock has a fifty day moving average of $6.56 and a two-hundred day moving average of $6.76. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 4.44 and a beta of 1.12.

United Microelectronics (NYSE:UMC) last announced its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm posted $5.30 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

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.