United Microelectronics Corporation $UMC Stock Position Trimmed by Canopy Partners LLC

Canopy Partners LLC decreased its stake in shares of United Microelectronics Corporation (NYSE:UMC) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,325 shares of the semiconductor company’s stock after selling 2,456 shares during the period. Canopy Partners LLC’s holdings in United Microelectronics were worth $186,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in United Microelectronics during the 1st quarter valued at about $29,000. GAMMA Investing LLC increased its stake in United Microelectronics by 262.9% during the 1st quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 8,772 shares during the period. Cerity Partners LLC increased its stake in United Microelectronics by 89.5% during the 1st quarter. Cerity Partners LLC now owns 324,207 shares of the semiconductor company’s stock valued at $2,318,000 after buying an additional 153,123 shares during the period. QRG Capital Management Inc. increased its stake in United Microelectronics by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 63,408 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 1,891 shares during the period. Finally, Xponance Inc. acquired a new position in United Microelectronics during the 1st quarter valued at about $125,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, United Microelectronics presently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

United Microelectronics stock opened at $7.55 on Thursday. The firm’s 50 day simple moving average is $6.96 and its 200-day simple moving average is $7.23. The company has a market cap of $18.97 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 4.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. United Microelectronics Corporation has a fifty-two week low of $5.61 and a fifty-two week high of $8.33.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same period last year, the business earned $0.17 earnings per share. As a group, equities research analysts predict that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Company 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.