Johnson Investment Counsel Inc. Increases Stake in United Microelectronics Co. (NYSE:UMC)

Johnson Investment Counsel Inc. boosted its stake in shares of United Microelectronics Co. (NYSE:UMC) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,700 shares of the semiconductor company’s stock after purchasing an additional 1,865 shares during the period. Johnson Investment Counsel Inc.’s holdings in United Microelectronics were worth $505,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SpiderRock Advisors LLC purchased a new stake in shares of United Microelectronics during the first quarter valued at $86,000. Adero Partners LLC purchased a new stake in United Microelectronics during the 4th quarter valued at about $94,000. Leo Wealth LLC acquired a new position in shares of United Microelectronics in the fourth quarter valued at about $95,000. Aprio Wealth Management LLC acquired a new stake in shares of United Microelectronics during the second quarter worth about $95,000. Finally, Simon Quick Advisors LLC acquired a new stake in shares of United Microelectronics during the second quarter worth about $103,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on UMC shares. StockNews.com upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. The Goldman Sachs Group upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, August 1st.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $8.57 on Friday. The company has a market cap of $21.48 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 4.69 and a beta of 1.18. United Microelectronics Co. has a twelve month low of $6.81 and a twelve month high of $9.00. The company’s 50 day moving average is $8.33 and its 200 day moving average is $8.26. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. During the same quarter last year, the company earned $0.20 EPS. On average, sell-side analysts forecast that United Microelectronics Co. will post 0.64 EPS for the current year.

United Microelectronics Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.