Ameriprise Financial Inc. Reduces Position in United Microelectronics Co. (NYSE:UMC)

Ameriprise Financial Inc. cut its position in United Microelectronics Co. (NYSE:UMC) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,548 shares of the semiconductor company’s stock after selling 27,847 shares during the period. Ameriprise Financial Inc.’s holdings in United Microelectronics were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of UMC. Savant Capital LLC purchased a new position in shares of United Microelectronics in the 4th quarter valued at $66,000. Verdence Capital Advisors LLC purchased a new position in shares of United Microelectronics in the 4th quarter valued at $69,000. Callan Family Office LLC purchased a new position in shares of United Microelectronics in the 4th quarter valued at $70,000. SBI Securities Co. Ltd. purchased a new position in shares of United Microelectronics in the 4th quarter valued at $73,000. Finally, Natural Investments LLC purchased a new position in shares of United Microelectronics in the 4th quarter valued at $74,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Down 1.3%

UMC stock opened at $7.52 on Friday. United Microelectronics Co. has a one year low of $5.61 and a one year high of $9.00. The stock has a market capitalization of $18.90 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 4.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company has a fifty day moving average of $7.21 and a 200-day moving average of $6.72.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $57.63 billion. During the same quarter last year, the business posted $0.13 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that United Microelectronics Co. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UMC shares. Wedbush downgraded shares of United Microelectronics from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 16th. Citigroup raised shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of United Microelectronics in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Company 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.