United Microelectronics (NYSE:UMC) Releases Earnings Results, Misses Expectations By $0.01 EPS

United Microelectronics (NYSE:UMC) posted its quarterly earnings data on Wednesday. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01), reports. United Microelectronics had a net margin of 24.79% and a return on equity of 15.82%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion.

United Microelectronics Trading Down 0.4 %

Shares of NYSE UMC traded down $0.03 during mid-day trading on Friday, hitting $7.73. The stock had a trading volume of 1,851,692 shares, compared to its average volume of 7,881,350. The business has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $7.84. United Microelectronics has a 1 year low of $6.71 and a 1 year high of $8.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.83 and a current ratio of 2.19. The firm has a market cap of $19.33 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently modified their holdings of UMC. Rhumbline Advisers grew its position in shares of United Microelectronics by 16.5% in the 3rd quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock worth $6,277,000 after buying an additional 125,903 shares during the last quarter. NewEdge Wealth LLC lifted its position in shares of United Microelectronics by 46.4% in the 3rd quarter. NewEdge Wealth LLC now owns 259,465 shares of the semiconductor company’s stock worth $1,832,000 after purchasing an additional 82,245 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics during the 4th quarter valued at about $109,000. Signaturefd LLC raised its stake in United Microelectronics by 4.4% in the third quarter. Signaturefd LLC now owns 218,484 shares of the semiconductor company’s stock worth $1,542,000 after buying an additional 9,134 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in United Microelectronics in the fourth quarter worth about $464,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on UMC. Citigroup raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price target on the stock. in a research report on Tuesday, January 16th. Finally, HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

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.