QRG Capital Management Inc. Grows Stock Position in United Microelectronics Corporation $UMC

QRG Capital Management Inc. increased its holdings in United Microelectronics Corporation (NYSE:UMC) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 66,027 shares of the semiconductor company’s stock after purchasing an additional 2,619 shares during the quarter. QRG Capital Management Inc.’s holdings in United Microelectronics were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UMC. Nomura Holdings Inc. boosted its position in shares of United Microelectronics by 360.1% in the 1st quarter. Nomura Holdings Inc. now owns 1,536,660 shares of the semiconductor company’s stock worth $10,987,000 after buying an additional 1,202,660 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after purchasing an additional 537,777 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in United Microelectronics in the 1st quarter valued at about $3,763,000. AQR Capital Management LLC lifted its holdings in United Microelectronics by 46.1% in the 1st quarter. AQR Capital Management LLC now owns 1,435,628 shares of the semiconductor company’s stock valued at $10,265,000 after purchasing an additional 452,788 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in United Microelectronics by 127.7% in the 1st quarter. Baird Financial Group Inc. now owns 541,176 shares of the semiconductor company’s stock valued at $3,869,000 after purchasing an additional 303,460 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Trading Down 3.8%

NYSE UMC opened at $7.20 on Friday. United Microelectronics Corporation has a 12 month low of $5.61 and a 12 month high of $8.33. The company has a 50-day moving average of $6.98 and a 200-day moving average of $7.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. The company has a market cap of $18.08 billion, a P/E ratio of 14.69, a P/E/G ratio of 4.49 and a beta of 1.24.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same period last year, the company posted $0.17 EPS. As a group, equities analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

About United Microelectronics

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.