Bridgefront Capital LLC Invests $99,000 in United Microelectronics Co. (NYSE:UMC)

Bridgefront Capital LLC purchased a new position in shares of United Microelectronics Co. (NYSE:UMC – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,722 shares of the semiconductor company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Advisors LLC bought a new stake in shares of United Microelectronics during the third quarter worth about $25,000. CoreCap Advisors LLC bought a new stake in shares of United Microelectronics during the second quarter worth about $28,000. Penserra Capital Management LLC bought a new stake in United Microelectronics in the third quarter valued at approximately $33,000. Quantbot Technologies LP bought a new stake in United Microelectronics in the first quarter valued at approximately $36,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in United Microelectronics in the third quarter valued at approximately $43,000. 5.35% of the stock is currently owned by institutional investors.

United Microelectronics Price Performance

Shares of UMC opened at $8.60 on Friday. United Microelectronics Co. has a 52-week low of $5.36 and a 52-week high of $9.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.19 and a current ratio of 2.47. The business’s 50 day moving average price is $8.08 and its two-hundred day moving average price is $7.07. The firm has a market cap of $21.47 billion, a PE ratio of 7.35, a price-to-earnings-growth ratio of 4.54 and a beta of 1.28.

United Microelectronics (NYSE:UMC – Get Rating) last issued its quarterly earnings results on Monday, January 16th. The semiconductor company reported $0.25 earnings per share (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 during the quarter, compared to analyst estimates of $2.11 billion. On average, equities analysts anticipate that United Microelectronics Co. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on UMC shares. StockNews.com started coverage on United Microelectronics in a report on Thursday. They issued a “buy” rating on the stock. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Tuesday, February 28th. Bank of America started coverage on United Microelectronics in a report on Monday, January 9th. They issued a “buy” rating on the stock. Finally, Loop Capital started coverage on United Microelectronics in a report on Monday, January 23rd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

United Microelectronics 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.