Rafferty Asset Management LLC Lowers Stake in United Microelectronics Corporation $UMC

Rafferty Asset Management LLC cut its holdings in United Microelectronics Corporation (NYSE:UMC) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,220,701 shares of the semiconductor company’s stock after selling 2,182,363 shares during the quarter. Rafferty Asset Management LLC’s holdings in United Microelectronics were worth $47,153,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC purchased a new position in shares of United Microelectronics during the second quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in United Microelectronics by 313.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 3,234 shares during the period. Euro Pacific Asset Management LLC acquired a new stake in United Microelectronics during the 3rd quarter worth approximately $80,000. Wealth Alliance LLC purchased a new position in shares of United Microelectronics in the 2nd quarter valued at approximately $77,000. Finally, MGO One Seven LLC acquired a new position in shares of United Microelectronics in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Trading Up 1.2%

Shares of United Microelectronics stock opened at $10.43 on Friday. The company has a 50-day moving average of $9.59 and a two-hundred day moving average of $8.10. United Microelectronics Corporation has a 12-month low of $5.71 and a 12-month high of $12.68. The company has a current ratio of 2.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.15. The stock has a market cap of $26.19 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 5.47 and a beta of 1.10.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UMC. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Bank of America downgraded shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, United Microelectronics currently has a consensus rating of “Hold” and an average target price of $8.60.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.