QRG Capital Management Inc. Raises Stock Position in United Microelectronics Corporation $UMC

QRG Capital Management Inc. lifted its stake in shares of United Microelectronics Corporation (NYSE:UMC) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,027 shares of the semiconductor company’s stock after buying an additional 2,619 shares during the quarter. QRG Capital Management Inc.’s holdings in United Microelectronics were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UMC. GAMMA Investing LLC lifted its position in shares of United Microelectronics by 2,495.1% during the 1st quarter. GAMMA Investing LLC now owns 86,572 shares of the semiconductor company’s stock worth $619,000 after buying an additional 83,236 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of United Microelectronics by 134.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,859 shares during the last quarter. Hennessy Advisors Inc. lifted its position in shares of United Microelectronics by 34.0% during the 1st quarter. Hennessy Advisors Inc. now owns 20,098 shares of the semiconductor company’s stock worth $144,000 after buying an additional 5,104 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of United Microelectronics by 19.5% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 24,074 shares of the semiconductor company’s stock worth $165,000 after buying an additional 3,927 shares during the last quarter. Finally, CogentBlue Wealth Advisors LLC purchased a new stake in shares of United Microelectronics during the 1st quarter worth approximately $148,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $7.20 on Friday. The firm has a market capitalization of $18.08 billion, a P/E ratio of 14.69, a PEG ratio of 4.49 and a beta of 1.24. United Microelectronics Corporation has a one year low of $5.61 and a one year high of $8.33. The company’s fifty day moving average is $6.98 and its two-hundred day moving average is $7.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same quarter in the previous year, the firm posted $0.17 earnings per share. Analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.40.

About United Microelectronics

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.