United Microelectronics (NYSE:UMC) Announces Earnings Results

United Microelectronics (NYSE:UMC) released its quarterly earnings data on Wednesday. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03, reports. United Microelectronics had a return on equity of 14.35% and a net margin of 22.89%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion.

United Microelectronics Stock Up 3.2 %

Shares of NYSE UMC opened at $7.06 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 3.76 and a beta of 1.20. United Microelectronics has a 12-month low of $6.78 and a 12-month high of $9.00. The firm’s 50-day simple moving average is $8.20 and its 200 day simple moving average is $8.26.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.40.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of United Microelectronics by 2.8% during 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 last quarter. Marshall Wace LLP lifted its holdings in United Microelectronics by 682.1% during the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after buying an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP boosted its position in United Microelectronics by 12.2% in the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after buying an additional 474,004 shares during the last quarter. Creative Planning increased its stake in shares of United Microelectronics by 22.6% in the 3rd quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock valued at $5,572,000 after buying an additional 121,919 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of United Microelectronics by 114.4% in the 2nd quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after buying an additional 234,606 shares during the period. 5.05% of the stock is owned by institutional investors.

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.