Redwood Wealth Management Group LLC Sells 5,539 Shares of United Microelectronics Co. (NYSE:UMC)

Redwood Wealth Management Group LLC trimmed its position in shares of United Microelectronics Co. (NYSE:UMC) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,830 shares of the semiconductor company’s stock after selling 5,539 shares during the period. Redwood Wealth Management Group LLC’s holdings in United Microelectronics were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UMC. Assetmark Inc. bought a new stake in United Microelectronics during the third quarter valued at about $37,000. GAMMA Investing LLC lifted its stake in shares of United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 3,242 shares during the period. Viking Fund Management LLC bought a new stake in shares of United Microelectronics in the third quarter valued at about $84,000. MML Investors Services LLC bought a new stake in shares of United Microelectronics in the third quarter valued at about $86,000. Finally, Synovus Financial Corp bought a new stake in shares of United Microelectronics in the third quarter valued at about $89,000. 5.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on UMC shares. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research note on Thursday, October 17th. Citigroup lowered shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $6.03 on Wednesday. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00. The firm has a market cap of $15.10 billion, a P/E ratio of 10.39, a P/E/G ratio of 3.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The firm has a 50 day simple moving average of $6.39 and a 200 day simple moving average of $7.43.

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

About United Microelectronics

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.