Millennium Management LLC Has $6.61 Million Position in United Microelectronics Co. (NYSE:UMC)

Millennium Management LLC cut its stake in shares of United Microelectronics Co. (NYSE:UMC) by 68.0% in the second quarter, Holdings Channel reports. The fund owned 755,026 shares of the semiconductor company’s stock after selling 1,602,308 shares during the period. Millennium Management LLC’s holdings in United Microelectronics were worth $6,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of United Microelectronics by 2.8% during 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 period. Nomura Holdings Inc. bought a new position in shares of United Microelectronics in the fourth quarter valued at about $5,301,000. Acadian Asset Management LLC raised its holdings in shares of United Microelectronics by 1,105.0% in the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock valued at $1,659,000 after buying an additional 188,133 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of United Microelectronics by 35.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 9,071 shares during the last quarter. Finally, Diversified Trust Co bought a new position in shares of United Microelectronics in the second quarter valued at about $113,000. 5.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, August 1st.

United Microelectronics Stock Performance

United Microelectronics stock opened at $8.05 on Friday. The stock has a 50-day simple moving average of $8.48 and a 200 day simple moving average of $8.30. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. United Microelectronics Co. has a 12-month low of $6.96 and a 12-month high of $9.00. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 4.44 and a beta of 1.18.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. During the same period in the previous year, the business posted $0.20 earnings per share. On average, research analysts anticipate that United Microelectronics Co. will post 0.66 earnings per share for the current fiscal year.

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.