Millennium Management LLC Sells 1,602,308 Shares of United Microelectronics Co. (NYSE:UMC)

Millennium Management LLC decreased its position in United Microelectronics Co. (NYSE:UMC) by 68.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 755,026 shares of the semiconductor company’s stock after selling 1,602,308 shares during the quarter. Millennium Management LLC’s holdings in United Microelectronics were worth $6,614,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of UMC. Marshall Wace LLP raised its position in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares during the period. Genesis Investment Management LLP raised its position 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 valued at $33,983,000 after purchasing an additional 1,744,721 shares during the period. Nomura Holdings Inc. bought a new position in shares of United Microelectronics in the fourth quarter valued at approximately $5,301,000. Vanguard Group Inc. raised its position in shares of United Microelectronics by 2.8% in the fourth 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 period. Finally, Acadian Asset Management LLC raised its position in shares of United Microelectronics by 114.4% in the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after purchasing an additional 234,606 shares during the period. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Trading Down 0.1 %

Shares of United Microelectronics stock opened at $8.05 on Friday. The company’s fifty day simple moving average is $8.48 and its 200-day simple moving average is $8.30. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 4.44 and a beta of 1.18. 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 1 year low of $6.96 and a 1 year high of $9.00.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data 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. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate 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 posted $0.20 earnings per share. As a group, sell-side analysts expect that United Microelectronics Co. will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday, August 1st.

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.