Summit Global Investments Invests $1.10 Million in United Microelectronics Corporation $UMC

Summit Global Investments purchased a new position in shares of United Microelectronics Corporation (NYSE:UMC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 144,665 shares of the semiconductor company’s stock, valued at approximately $1,097,000.

Several other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC purchased a new stake in United Microelectronics in the 2nd quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Microelectronics by 313.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 3,234 shares in the last quarter. Euro Pacific Asset Management LLC acquired a new position in United Microelectronics during the third quarter worth $80,000. Wealth Alliance LLC purchased a new position in United Microelectronics in the second quarter worth $77,000. Finally, MGO One Seven LLC acquired a new stake in United Microelectronics in the third quarter valued at $77,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UMC has been the topic of a number of recent analyst reports. Bank of America cut shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. BNP Paribas Exane lowered shares of United Microelectronics from a “neutral” rating to an “underperform” rating and set a $8.60 target price on the stock. in a research report on Wednesday. Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday, October 8th. Finally, Exane BNP Paribas raised United Microelectronics to a “strong-buy” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.60.

United Microelectronics Trading Down 4.0%

Shares of United Microelectronics stock opened at $10.16 on Friday. The business has a 50 day moving average price of $8.61 and a 200 day moving average price of $7.67. The company has a market capitalization of $25.51 billion, a P/E ratio of 18.81, a P/E/G ratio of 5.62 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 $5.71 and a 1 year high of $12.68.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $0.10 earnings per share. United Microelectronics’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

About United Microelectronics

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.