PNC Financial Services Group Inc. Boosts Holdings in United Microelectronics Co. (NYSE:UMC)

PNC Financial Services Group Inc. boosted its position in United Microelectronics Co. (NYSE:UMC) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,851 shares of the semiconductor company’s stock after buying an additional 5,377 shares during the period. PNC Financial Services Group Inc.’s holdings in United Microelectronics were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in United Microelectronics by 96.0% in the third quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after acquiring an additional 73,202 shares during the period. Natixis Advisors LLC lifted its holdings in United Microelectronics by 12.8% in the third quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company’s stock valued at $1,531,000 after acquiring an additional 20,656 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in United Microelectronics in the third quarter valued at $333,000. Advisors Asset Management Inc. lifted its holdings in United Microelectronics by 60.0% in the third quarter. Advisors Asset Management Inc. now owns 169,462 shares of the semiconductor company’s stock valued at $1,427,000 after acquiring an additional 63,528 shares during the period. Finally, Cerity Partners LLC lifted its holdings in United Microelectronics by 90.5% in the third quarter. Cerity Partners LLC now owns 237,027 shares of the semiconductor company’s stock valued at $1,996,000 after acquiring an additional 112,624 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded 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. Based on data from MarketBeat, United Microelectronics currently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Up 0.5 %

NYSE:UMC opened at $6.87 on Thursday. The company has a market capitalization of $17.20 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 4.44 and a beta of 1.20. 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 $6.30 and a 200-day simple moving average of $7.02.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $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 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.