US Bancorp DE Increases Holdings in United Microelectronics Corporation $UMC

US Bancorp DE increased its stake in United Microelectronics Corporation (NYSE:UMC) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 266,887 shares of the semiconductor company’s stock after purchasing an additional 4,887 shares during the quarter. US Bancorp DE’s holdings in United Microelectronics were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of United Microelectronics in the first quarter valued at $29,000. Farther Finance Advisors LLC grew its position in shares of United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 2,859 shares in the last quarter. Choreo LLC purchased a new position in shares of United Microelectronics in the first quarter valued at $80,000. Valeo Financial Advisors LLC purchased a new position in shares of United Microelectronics in the second quarter valued at $82,000. Finally, GAMMA Investing LLC grew its position in shares of United Microelectronics by 262.9% in the first quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 8,772 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Trading Up 0.3%

NYSE UMC opened at $7.43 on Thursday. United Microelectronics Corporation has a 1-year low of $5.61 and a 1-year high of $8.33. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $7.02 and a 200-day moving average of $7.26. The firm has a market cap of $18.65 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 4.44 and a beta of 1.24.

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

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. One research 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 company. According to data from MarketBeat, United Microelectronics presently has a consensus rating of “Hold” and a consensus 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.