Hsbc Holdings PLC Takes $473,000 Position in United Microelectronics Co. (NYSE:UMC)

Hsbc Holdings PLC bought a new stake in shares of United Microelectronics Co. (NYSE:UMC – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 84,427 shares of the semiconductor company’s stock, valued at approximately $473,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of United Microelectronics by 4.7% in the 2nd quarter. FMR LLC now owns 33,777 shares of the semiconductor company’s stock worth $229,000 after buying an additional 1,513 shares during the period. Desjardins Global Asset Management Inc. lifted its holdings in shares of United Microelectronics by 4.9% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 40,874 shares of the semiconductor company’s stock worth $228,000 after buying an additional 1,900 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of United Microelectronics by 2.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 87,052 shares of the semiconductor company’s stock worth $589,000 after buying an additional 2,111 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of United Microelectronics by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,532 shares of the semiconductor company’s stock worth $379,000 after buying an additional 2,233 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of United Microelectronics by 6.0% in the 3rd quarter. Ballentine Partners LLC now owns 46,377 shares of the semiconductor company’s stock worth $258,000 after buying an additional 2,606 shares during the period. 5.35% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Performance

Shares of UMC stock opened at $8.31 on Tuesday. United Microelectronics Co. has a 12-month low of $5.36 and a 12-month high of $9.61. The business’s fifty day simple moving average is $7.76 and its 200-day simple moving average is $6.97. The company has a current ratio of 2.47, a quick ratio of 2.19 and a debt-to-equity ratio of 0.15. The company has a market cap of $20.75 billion, a PE ratio of 7.10, a PEG ratio of 4.55 and a beta of 1.28.

United Microelectronics (NYSE:UMC – Get Rating) last issued its quarterly earnings data on Monday, January 16th. The semiconductor company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). United Microelectronics had a net margin of 31.24% and a return on equity of 28.08%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analysts expect that United Microelectronics Co. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America assumed coverage on United Microelectronics in a report on Monday, January 9th. They issued a “buy” rating for the company. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Tuesday, February 28th. StockNews.com lowered United Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, February 24th. Finally, Loop Capital began coverage on United Microelectronics in a report on Monday, January 23rd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

United Microelectronics Company Profile

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United Microelectronics Corp. is engaged in the semiconductor foundry business, which offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors.