EverSource Wealth Advisors LLC Sells 11,946 Shares of United Microelectronics Co. (NYSE:UMC)

EverSource Wealth Advisors LLC lowered its position in United Microelectronics Co. (NYSE:UMC) by 52.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,724 shares of the semiconductor company’s stock after selling 11,946 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in United Microelectronics were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP raised its position in United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 970,600 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in United Microelectronics by 178.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 383,842 shares of the semiconductor company’s stock worth $2,506,000 after purchasing an additional 246,034 shares during the last quarter. Barclays PLC raised its position in United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after purchasing an additional 240,380 shares during the last quarter. Fisher Asset Management LLC raised its position in United Microelectronics by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company’s stock worth $47,379,000 after purchasing an additional 237,024 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in United Microelectronics in the 3rd quarter worth approximately $1,915,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

UMC opened at $6.87 on Thursday. The company has a fifty day moving average price of $6.30 and a two-hundred day moving average price of $7.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The firm has a market capitalization of $17.20 billion, a PE ratio of 11.84, a P/E/G ratio of 4.44 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last released its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $5.30 EPS. United Microelectronics’s revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. One 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 a consensus rating of “Hold” and an average price target of $7.40.

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.