Renaissance Technologies LLC Acquires Shares of 1,967,384 United Microelectronics Co. (NYSE:UMC)

Renaissance Technologies LLC bought a new position in shares of United Microelectronics Co. (NYSE:UMC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,967,384 shares of the semiconductor company’s stock, valued at approximately $12,768,000. Renaissance Technologies LLC owned 0.08% of United Microelectronics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC raised its stake in United Microelectronics by 3.3% in the fourth quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company’s stock worth $401,000 after buying an additional 1,963 shares in the last quarter. Banque Pictet & Cie SA raised its position in shares of United Microelectronics by 3.5% in the 4th quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 2,500 shares in the last quarter. DGS Capital Management LLC lifted its stake in shares of United Microelectronics by 2.7% during the 3rd quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock worth $878,000 after purchasing an additional 2,712 shares during the last quarter. PDS Planning Inc boosted its position in United Microelectronics by 5.5% during the fourth quarter. PDS Planning Inc now owns 57,828 shares of the semiconductor company’s stock valued at $375,000 after purchasing an additional 3,001 shares in the last quarter. Finally, Caprock Group LLC grew its stake in United Microelectronics by 2.4% in the fourth quarter. Caprock Group LLC now owns 129,033 shares of the semiconductor company’s stock valued at $837,000 after purchasing an additional 3,013 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Up 0.7 %

United Microelectronics stock opened at $6.93 on Wednesday. The business has a fifty day moving average price of $6.56 and a 200-day moving average price of $6.76. United Microelectronics Co. has a 1-year low of $5.61 and a 1-year high of $9.00. The stock 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. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results 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%. United Microelectronics’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.30 EPS. Equities research analysts forecast 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.