Drive Wealth Management LLC Has $142,000 Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Drive Wealth Management LLC boosted its stake in shares of United Microelectronics Co. (NYSE:UMCFree Report) by 18.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,770 shares of the semiconductor company’s stock after buying an additional 2,580 shares during the period. Drive Wealth Management LLC’s holdings in United Microelectronics were worth $142,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Schechter Investment Advisors LLC raised its holdings in United Microelectronics by 5.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock worth $224,000 after buying an additional 1,452 shares during the period. FMR LLC raised its holdings in United Microelectronics by 4.7% during the 2nd quarter. FMR LLC now owns 33,777 shares of the semiconductor company’s stock worth $229,000 after buying an additional 1,513 shares during the period. EverSource Wealth Advisors LLC raised its holdings in United Microelectronics by 19.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,514 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in United Microelectronics by 6.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,918 shares of the semiconductor company’s stock worth $212,000 after buying an additional 1,520 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in United Microelectronics by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock worth $518,000 after buying an additional 1,671 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Price Performance

Shares of UMC opened at $8.11 on Wednesday. The stock has a market capitalization of $20.28 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.19 and a beta of 1.21. United Microelectronics Co. has a twelve month low of $6.71 and a twelve month high of $8.97. The company has a 50 day moving average of $7.94 and a 200-day moving average of $7.75. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMCGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. United Microelectronics had a net margin of 27.41% and a return on equity of 17.43%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.25 EPS. As a group, equities research analysts forecast that United Microelectronics Co. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on UMC shares. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price on the stock. in a report on Tuesday, January 16th. HSBC raised shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Thursday, January 25th.

Check Out Our Latest Stock Analysis on UMC

About United Microelectronics

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for United Microelectronics (NYSE:UMC)

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