94,320 Shares in United Microelectronics Co. (NYSE:UMC) Purchased by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of United Microelectronics Co. (NYSE:UMC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 94,320 shares of the semiconductor company’s stock, valued at approximately $826,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UMC. Vanguard Group Inc. raised its stake in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after purchasing an additional 434,018 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of United Microelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 4,435,239 shares of the semiconductor company’s stock valued at $37,522,000 after buying an additional 355,186 shares during the last quarter. Genesis Investment Management LLP lifted its stake in shares of United Microelectronics by 81.7% in the second quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock worth $33,983,000 after buying an additional 1,744,721 shares in the last quarter. Schroder Investment Management Group boosted its position in United Microelectronics by 2,256.8% during the fourth quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock worth $29,414,000 after acquiring an additional 3,329,354 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in United Microelectronics during the 4th quarter valued at about $5,860,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

United Microelectronics stock opened at $8.39 on Friday. The firm has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $8.29. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 4.62 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. United Microelectronics Co. has a 1-year low of $6.81 and a 1-year high of $9.00.

United Microelectronics (NYSE:UMC) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $0.20 earnings per share. On average, analysts expect that United Microelectronics Co. will post 0.64 EPS for the current year.

Analysts Set New Price Targets

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

About United Microelectronics

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.