Stock Traders Purchase High Volume of United Microelectronics Call Options (NYSE:UMC)

United Microelectronics Corporation (NYSE:UMC) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 115,946 call options on the stock. This represents an increase of 826% compared to the typical daily volume of 12,525 call options.

United Microelectronics Stock Performance

Shares of NYSE:UMC traded up $1.06 during midday trading on Wednesday, reaching $16.11. 7,334,683 shares of the company traded hands, compared to its average volume of 13,385,942. The company has a quick ratio of 2.75, a current ratio of 3.27 and a debt-to-equity ratio of 0.13. United Microelectronics has a 12 month low of $6.97 and a 12 month high of $28.96. The firm has a market capitalization of $40.55 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.76. The firm’s fifty day moving average price is $21.06 and its two-hundred day moving average price is $17.20.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.33 billion. United Microelectronics had a net margin of 31.96% and a return on equity of 20.12%. On average, equities analysts expect that United Microelectronics will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UMC shares. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. HSBC raised shares of United Microelectronics from a “hold” rating to a “buy” rating and dropped their price objective for the company from $37.42 to $33.76 in a report on Thursday, July 30th. Arete Research upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings downgraded shares of United Microelectronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Finally, Zacks Research lowered shares of United Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, United Microelectronics has an average rating of “Reduce” and an average price target of $36.79.

Institutional Investors Weigh In On United Microelectronics

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of United Microelectronics by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company’s stock valued at $25,591,000 after purchasing an additional 333,011 shares during the last quarter. Ethic Inc. increased its holdings in United Microelectronics by 5.0% in the 3rd quarter. Ethic Inc. now owns 393,622 shares of the semiconductor company’s stock worth $9,640,000 after acquiring an additional 18,762 shares in the last quarter. Nykredit A S purchased a new stake in United Microelectronics in the 2nd quarter worth approximately $9,525,000. Quantinno Capital Management LP raised its stake in United Microelectronics by 17.9% during the 1st quarter. Quantinno Capital Management LP now owns 710,604 shares of the semiconductor company’s stock worth $6,381,000 after acquiring an additional 108,050 shares during the period. Finally, Wellington Management Group LLP raised its stake in United Microelectronics by 137.6% during the 2nd quarter. Wellington Management Group LLP now owns 231,006 shares of the semiconductor company’s stock worth $6,286,000 after acquiring an additional 133,779 shares during the period. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. It provides wafer fabrication and related services to fabless chip designers and integrated device manufacturers, rather than selling its own branded semiconductor products. Founded in 1980, UMC was Taiwan’s first semiconductor company. Its manufacturing and technology offerings serve applications including communications, consumer electronics, computing, automotive and industrial products.