FNY Investment Advisers LLC grew its position in United Microelectronics Corp (NYSE:UMC) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,000 shares of the semiconductor company’s stock after acquiring an additional 34,841 shares during the quarter. FNY Investment Advisers LLC’s holdings in United Microelectronics were worth $470,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lindbrook Capital LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $25,000. Private Advisor Group LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $32,000. Navellier & Associates Inc increased its position in United Microelectronics by 43.3% during the 4th quarter. Navellier & Associates Inc now owns 21,190 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 6,403 shares during the period. CAPROCK Group Inc. purchased a new position in United Microelectronics during the 4th quarter valued at about $43,000. Finally, PNC Financial Services Group Inc. increased its position in United Microelectronics by 60.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 58,702 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 22,091 shares during the period. 5.19% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the stock. Goldman Sachs Group assumed coverage on shares of United Microelectronics in a research report on Tuesday. They set a “sell” rating on the stock. HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research report on Wednesday, April 24th. Credit Suisse Group raised shares of United Microelectronics from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised shares of United Microelectronics from an “underweight” rating to a “neutral” rating in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. United Microelectronics has an average rating of “Hold” and an average target price of $2.19.
United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. United Microelectronics had a net margin of 3.33% and a return on equity of 2.31%. The business had revenue of $32.58 billion for the quarter, compared to analysts’ expectations of $32.76 billion. During the same period last year, the business earned $0.28 EPS. The company’s revenue was down 13.1% compared to the same quarter last year.
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About United Microelectronics
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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