Hennion & Walsh Asset Management Inc. Sells 73,802 Shares of United Microelectronics Corporation $UMC

Hennion & Walsh Asset Management Inc. lowered its position in United Microelectronics Corporation (NYSE:UMC) by 46.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,571 shares of the semiconductor company’s stock after selling 73,802 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in United Microelectronics were worth $656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. increased its stake in United Microelectronics by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 14,756 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 1,516 shares during the period. Crestwood Advisors Group LLC boosted its position in shares of United Microelectronics by 9.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 19,614 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 1,663 shares in the last quarter. Ignite Planners LLC increased its stake in United Microelectronics by 1.6% in the second quarter. Ignite Planners LLC now owns 113,172 shares of the semiconductor company’s stock valued at $847,000 after purchasing an additional 1,734 shares in the last quarter. Hennessy Advisors Inc. increased its position in United Microelectronics by 12.3% in the 3rd quarter. Hennessy Advisors Inc. now owns 16,741 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 1,833 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in United Microelectronics by 2.4% in the second quarter. Ritholtz Wealth Management now owns 87,663 shares of the semiconductor company’s stock valued at $671,000 after acquiring an additional 2,020 shares during the period. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Bank of America downgraded United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

United Microelectronics Stock Up 2.8%

NYSE UMC opened at $8.79 on Friday. The business’s 50-day moving average is $7.75 and its 200 day moving average is $7.40. The stock has a market capitalization of $22.09 billion, a PE ratio of 17.24, a PEG ratio of 4.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.34 and a quick ratio of 1.92. United Microelectronics Corporation has a 1 year low of $5.61 and a 1 year high of $9.11.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 11.18% and a net margin of 17.08%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $58.25 billion. During the same quarter in the prior year, the business earned $0.18 EPS. Sell-side analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.