First Trust Direct Indexing L.P. Buys 4,545 Shares of United Microelectronics Co. (NYSE:UMC)

First Trust Direct Indexing L.P. grew its stake in shares of United Microelectronics Co. (NYSE:UMC) by 2.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,086 shares of the semiconductor company’s stock after buying an additional 4,545 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in United Microelectronics were worth $1,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UMC. GAMMA Investing LLC grew its stake in shares of United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new stake in shares of United Microelectronics in the third quarter worth $84,000. SpiderRock Advisors LLC bought a new stake in shares of United Microelectronics in the first quarter worth $86,000. Aprio Wealth Management LLC bought a new stake in shares of United Microelectronics in the second quarter worth $95,000. Finally, Simon Quick Advisors LLC bought a new stake in United Microelectronics during the second quarter valued at $103,000. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on UMC shares. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $6.84 on Friday. The firm’s 50-day moving average price is $8.24 and its 200-day moving average price is $8.26. United Microelectronics Co. has a 1-year low of $6.78 and a 1-year high of $9.00. The firm has a market capitalization of $17.14 billion, a P/E ratio of 10.52, a P/E/G ratio of 3.72 and a beta of 1.18. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. United Microelectronics had a net margin of 22.89% and a return on equity of 14.35%. Equities research analysts anticipate that United Microelectronics Co. will post 0.66 earnings per share 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.