United Microelectronics Co. (NYSE:UMC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in United Microelectronics Co. (NYSE:UMC) by 178.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 383,842 shares of the semiconductor company’s stock after acquiring an additional 246,034 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Microelectronics were worth $2,506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UMC. Assetmark Inc. acquired a new stake in United Microelectronics in the third quarter valued at $37,000. Savant Capital LLC acquired a new stake in United Microelectronics in the fourth quarter valued at $66,000. MML Investors Services LLC acquired a new stake in United Microelectronics in the third quarter valued at $86,000. Synovus Financial Corp acquired a new stake in United Microelectronics in the third quarter valued at $89,000. Finally, R Squared Ltd acquired a new stake in United Microelectronics in the fourth quarter valued at $121,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

UMC has been the subject of a number of recent analyst reports. Citigroup downgraded United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Finally, Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Trading Down 1.1 %

NYSE:UMC opened at $6.48 on Friday. The company has a market capitalization of $16.23 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 4.39 and a beta of 1.15. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 52-week low of $5.61 and a 52-week high of $9.00. The stock has a fifty day simple moving average of $6.27 and a 200-day simple moving average of $7.29.

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

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.