United Microelectronics (NYSE:UMC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

United Microelectronics (NYSE:UMC) posted its earnings results on Wednesday. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01), reports. United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion.

United Microelectronics Price Performance

NYSE:UMC traded down $0.03 during trading hours on Friday, reaching $7.73. The company had a trading volume of 1,851,692 shares, compared to its average volume of 7,881,350. The firm has a market capitalization of $19.33 billion, a PE ratio of 11.09, a PEG ratio of 2.18 and a beta of 1.21. The stock has a 50-day moving average of $7.93 and a two-hundred day moving average of $7.84. United Microelectronics has a one year low of $6.71 and a one year high of $8.97. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UMC. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price target on the stock. in a research report on Tuesday, January 16th. Finally, HSBC upgraded shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

Institutional Investors Weigh In On United Microelectronics

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in United Microelectronics during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its stake in United Microelectronics by 19.8% in the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,514 shares in the last quarter. Optas LLC bought a new stake in shares of United Microelectronics during the fourth quarter worth $89,000. Coldstream Capital Management Inc. bought a new position in shares of United Microelectronics in the third quarter valued at about $76,000. Finally, Cherrydale Wealth Management LLC bought a new position in shares of United Microelectronics in the fourth quarter worth about $93,000. Institutional investors own 5.05% of the company’s stock.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.