US Bancorp DE Sells 40,546 Shares of United Microelectronics Co. (NYSE:UMC)

US Bancorp DE lowered its stake in United Microelectronics Co. (NYSE:UMC) by 24.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,408 shares of the semiconductor company’s stock after selling 40,546 shares during the quarter. US Bancorp DE’s holdings in United Microelectronics were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Banque Pictet & Cie SA increased its position in United Microelectronics by 3.5% during the 4th quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company’s stock worth $484,000 after purchasing an additional 2,500 shares in the last quarter. DGS Capital Management LLC increased its holdings in shares of United Microelectronics by 2.7% during the third quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock worth $878,000 after buying an additional 2,712 shares in the last quarter. Caprock Group LLC increased its holdings in shares of United Microelectronics by 2.4% during the fourth quarter. Caprock Group LLC now owns 129,033 shares of the semiconductor company’s stock worth $837,000 after buying an additional 3,013 shares in the last quarter. Assetmark Inc. bought a new position in United Microelectronics in the third quarter valued at about $37,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of United Microelectronics by 23.5% during the third quarter. Glenmede Trust Co. NA now owns 24,696 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 4,696 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $6.79 on Tuesday. The firm has a market capitalization of $17.00 billion, a P/E ratio of 11.70, a P/E/G ratio of 4.44 and a beta of 1.20. The firm’s 50-day moving average price is $6.27 and its 200-day moving average price is $7.11. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 1-year low of $5.61 and a 1-year high of $9.00.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $5.30 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on UMC shares. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Citigroup cut United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, United Microelectronics has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Company Profile

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