Wellington Management Group LLP Acquires New Stake in United Microelectronics Co. (NYSE:UMC)

Wellington Management Group LLP bought a new position in United Microelectronics Co. (NYSE:UMC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,333 shares of the semiconductor company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMC. JPMorgan Chase & Co. grew its holdings in United Microelectronics by 150.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company’s stock worth $13,122,000 after acquiring an additional 1,215,849 shares during the period. Vanguard Group Inc. grew its stake in shares of United Microelectronics by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company’s stock worth $103,501,000 after purchasing an additional 750,472 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of United Microelectronics by 178.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 383,842 shares of the semiconductor company’s stock worth $2,506,000 after purchasing an additional 246,034 shares in the last quarter. Barclays PLC lifted its stake in United Microelectronics by 8.1% during the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after purchasing an additional 240,380 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in United Microelectronics by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company’s stock worth $47,379,000 after buying an additional 237,024 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Up 0.4 %

UMC stock opened at $6.90 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The firm has a market capitalization of $17.29 billion, a P/E ratio of 11.90, a P/E/G ratio of 4.44 and a beta of 1.12. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00. The company’s 50 day simple moving average is $6.54 and its 200-day simple moving average is $6.76.

United Microelectronics (NYSE:UMC) last announced its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. United Microelectronics’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $5.30 earnings per share. As a group, equities research analysts anticipate that United Microelectronics Co. will post 0.51 EPS 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.