United Microelectronics Sees Unusually Large Options Volume (NYSE:UMC)

United Microelectronics Corporation (NYSE:UMC) was the recipient of unusually large options trading on Thursday. Stock traders bought 2,665 call options on the company. This is an increase of approximately 290% compared to the typical volume of 683 call options.

United Microelectronics Trading Up 6.2%

NYSE UMC traded up $0.54 on Friday, hitting $9.31. 14,268,315 shares of the company were exchanged, compared to its average volume of 8,049,845. United Microelectronics has a twelve month low of $5.61 and a twelve month high of $9.37. The company’s 50 day moving average price is $7.88 and its 200-day moving average price is $7.44. The firm has a market capitalization of $23.39 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.34 and a quick ratio of 1.92.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. 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. Analysts predict that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC bought a new position in United Microelectronics during the second quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of United Microelectronics by 313.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 3,234 shares in the last quarter. Wealth Alliance LLC acquired a new position in United Microelectronics in the second quarter valued at about $77,000. MGO One Seven LLC acquired a new position in shares of United Microelectronics in the 3rd quarter valued at approximately $77,000. Finally, Euro Pacific Asset Management LLC bought a new stake in United Microelectronics during the 3rd quarter worth approximately $80,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UMC. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Bank of America downgraded United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday, October 8th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.