Choreo LLC Purchases Shares of 12,129 United Microelectronics Co. (NYSE:UMC)

Choreo LLC bought a new position in United Microelectronics Co. (NYSE:UMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 12,129 shares of the semiconductor company’s stock, valued at approximately $106,000.

Several other institutional investors have also recently made changes to their positions in UMC. Victory Capital Management Inc. raised its position in shares of United Microelectronics by 13.7% in the 4th quarter. Victory Capital Management Inc. now owns 39,123 shares of the semiconductor company’s stock worth $331,000 after acquiring an additional 4,704 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of United Microelectronics by 3.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 76,057 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 2,754 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of United Microelectronics in the 4th quarter worth approximately $193,000. EverSource Wealth Advisors LLC raised its position in shares of United Microelectronics by 53.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 14,021 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 4,870 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of United Microelectronics by 21.7% in the 4th quarter. US Bancorp DE now owns 124,503 shares of the semiconductor company’s stock worth $1,053,000 after acquiring an additional 22,191 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UMC. The Goldman Sachs Group raised United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th.

United Microelectronics Stock Performance

Shares of UMC opened at $8.40 on Friday. The business’s fifty day simple moving average is $8.33 and its two-hundred day simple moving average is $8.28. 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 Co. has a 12 month low of $6.81 and a 12 month high of $9.00. The company has a market cap of $21.05 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 4.62 and a beta of 1.18.

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

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.