Citigroup Inc. Sells 1,432,571 Shares of United Microelectronics Corporation $UMC

Citigroup Inc. decreased its position in United Microelectronics Corporation (NYSE:UMC) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,295,246 shares of the semiconductor company’s stock after selling 1,432,571 shares during the period. Citigroup Inc. owned about 0.09% of United Microelectronics worth $17,398,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Maple Rock Capital Partners Inc. purchased a new position in shares of United Microelectronics during the 2nd quarter valued at $24,024,000. Rafferty Asset Management LLC raised its stake in United Microelectronics by 50.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after acquiring an additional 2,826,486 shares during the period. Goldman Sachs Group Inc. lifted its holdings in United Microelectronics by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after purchasing an additional 537,777 shares during the last quarter. Creative Planning boosted its position in United Microelectronics by 34.0% during the second quarter. Creative Planning now owns 1,689,542 shares of the semiconductor company’s stock worth $12,925,000 after purchasing an additional 428,522 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of United Microelectronics in the second quarter worth about $2,427,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Up 1.2%

UMC opened at $10.43 on Friday. The firm has a market capitalization of $26.19 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 5.47 and a beta of 1.10. United Microelectronics Corporation has a one year low of $5.71 and a one year high of $12.68. The company has a fifty day moving average price of $9.59 and a 200-day moving average price of $8.10. 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 (NYSE:UMC) last posted its quarterly earnings data on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts expect that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.