US Bancorp DE Acquires 274,157 Shares of United Microelectronics Corporation $UMC

US Bancorp DE increased its holdings in United Microelectronics Corporation (NYSE:UMC) by 102.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,044 shares of the semiconductor company’s stock after purchasing an additional 274,157 shares during the period. US Bancorp DE’s holdings in United Microelectronics were worth $4,101,000 at the end of the most recent reporting period.

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

United Microelectronics Stock Performance

NYSE:UMC opened at $10.52 on Tuesday. The firm’s 50-day moving average is $9.64 and its 200-day moving average is $8.14. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 5.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34. United Microelectronics Corporation has a 52-week low of $5.71 and a 52-week high of $12.68.

United Microelectronics (NYSE:UMC) last released its 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 11.45% and a net margin of 17.60%.The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

United Microelectronics Company Profile

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.