Savvy Advisors Inc. Buys New Shares in United Microelectronics Co. (NYSE:UMC)

Savvy Advisors Inc. purchased a new position in United Microelectronics Co. (NYSE:UMC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,256 shares of the semiconductor company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in United Microelectronics by 1.5% in the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock valued at $30,831,000 after purchasing an additional 53,105 shares during the period. MML Investors Services LLC acquired a new position in shares of United Microelectronics in the 3rd quarter valued at $86,000. Barclays PLC grew its stake in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after buying an additional 240,380 shares during the period. Tidal Investments LLC raised its position in shares of United Microelectronics by 110.6% in the 3rd quarter. Tidal Investments LLC now owns 115,287 shares of the semiconductor company’s stock worth $971,000 after buying an additional 60,533 shares during the period. Finally, Synovus Financial Corp acquired a new position in United Microelectronics in the third quarter valued at $89,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

NYSE:UMC opened at $6.93 on Wednesday. United Microelectronics Co. has a twelve month low of $5.61 and a twelve month high of $9.00. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 4.44 and a beta of 1.12. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $6.56 and its 200 day simple moving average is $6.76.

United Microelectronics (NYSE:UMC) last issued its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. United Microelectronics’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.30 EPS. As a group, equities research analysts expect that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.40.

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.