Stock Traders Purchase High Volume of United Microelectronics Call Options (NYSE:UMC)

United Microelectronics Corporation (NYSE:UMC) saw some unusual options trading on Wednesday. Stock traders purchased 45,855 call options on the stock. This is an increase of 1,422% compared to the typical volume of 3,013 call options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UMC shares. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Bank of America cut shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th. Finally, BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, United Microelectronics presently has a consensus rating of “Hold” and a consensus target price of $8.60.

United Microelectronics Stock Up 2.4%

United Microelectronics stock opened at $9.71 on Thursday. The firm has a 50 day simple moving average of $9.89 and a 200 day simple moving average of $8.28. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.12. United Microelectronics has a 1-year low of $5.71 and a 1-year high of $12.68. The firm has a market capitalization of $24.38 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 5.04 and a beta of 1.08.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that United Microelectronics will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On United Microelectronics

A number of large investors have recently modified their holdings of UMC. Cetera Investment Advisers increased its holdings in United Microelectronics by 7.7% during the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 1,103 shares during the period. Xponance LLC increased its holdings in shares of United Microelectronics by 7.2% in the fourth quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock worth $161,000 after purchasing an additional 1,384 shares during the period. Xponance Inc. raised its position in shares of United Microelectronics by 8.2% in the third quarter. Xponance Inc. now owns 19,110 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,445 shares in the last quarter. GeoWealth Management LLC boosted its stake in United Microelectronics by 10.2% during the third quarter. GeoWealth Management LLC now owns 15,710 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 1,459 shares during the period. Finally, Hennessy Advisors Inc. grew its position in United Microelectronics by 8.8% during the fourth quarter. Hennessy Advisors Inc. now owns 18,212 shares of the semiconductor company’s stock worth $143,000 after buying an additional 1,471 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

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.