Wealth Alliance LLC Purchases Shares of 10,042 United Microelectronics Corporation $UMC

Wealth Alliance LLC acquired a new position in United Microelectronics Corporation (NYSE:UMC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,042 shares of the semiconductor company’s stock, valued at approximately $77,000.

Other hedge funds also recently modified their holdings of the company. Choreo LLC bought a new stake in United Microelectronics during the first quarter worth $80,000. Valeo Financial Advisors LLC purchased a new position in United Microelectronics during the 2nd quarter worth $82,000. Viking Fund Management LLC bought a new stake in shares of United Microelectronics in the 2nd quarter worth $92,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of United Microelectronics in the first quarter valued at about $93,000. Finally, May Hill Capital LLC purchased a new stake in shares of United Microelectronics in the second quarter valued at about $95,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. Finally, Bank of America lowered United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

United Microelectronics Stock Performance

Shares of UMC stock opened at $7.16 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 4.12 and a beta of 1.29. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.33. The firm’s 50-day simple moving average is $7.34 and its two-hundred day simple moving average is $7.38.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 17.08% and a return on equity of 11.36%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $58.25 billion. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

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.