United Microelectronics Co. (NYSE:UMC) Stock Position Lifted by Parallel Advisors LLC

Parallel Advisors LLC raised its stake in shares of United Microelectronics Co. (NYSE:UMC) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,331 shares of the semiconductor company’s stock after buying an additional 4,016 shares during the period. Parallel Advisors LLC’s holdings in United Microelectronics were worth $993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UMC. Schroder Investment Management Group grew its stake in United Microelectronics by 2,256.8% in the fourth quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock valued at $29,414,000 after purchasing an additional 3,329,354 shares in the last quarter. Genesis Investment Management LLP grew its stake in shares of United Microelectronics by 81.7% in the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock valued at $33,983,000 after buying an additional 1,744,721 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in United Microelectronics in the fourth quarter worth approximately $5,860,000. Nomura Holdings Inc. bought a new position in United Microelectronics during the fourth quarter valued at approximately $5,301,000. Finally, Vanguard Group Inc. lifted its stake in United Microelectronics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after acquiring an additional 434,018 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Price Performance

Shares of United Microelectronics stock opened at $8.49 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $8.33 and a 200-day simple moving average of $8.27. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 4.69 and a beta of 1.18. United Microelectronics Co. has a 1-year low of $6.81 and a 1-year high of $9.00.

United Microelectronics (NYSE:UMC) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. During the same quarter in the previous year, the business earned $0.20 EPS. On average, sell-side analysts expect that United Microelectronics Co. will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UMC has been the subject of several analyst reports. StockNews.com raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday, August 1st.

About United Microelectronics

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.