Raymond James Financial Inc. Makes New $183,000 Investment in United Microelectronics Co. (NYSE:UMC)

Raymond James Financial Inc. purchased a new position in United Microelectronics Co. (NYSE:UMC) in the fourth quarter, HoldingsChannel reports. The firm purchased 28,253 shares of the semiconductor company’s stock, valued at approximately $183,000.

A number of other hedge funds have also modified their holdings of UMC. Renaissance Technologies LLC bought a new position in shares of United Microelectronics in the fourth quarter worth approximately $12,768,000. JPMorgan Chase & Co. boosted its position in shares of United Microelectronics by 150.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company’s stock worth $13,122,000 after purchasing an additional 1,215,849 shares during the period. Vanguard Group Inc. boosted its position in shares of United Microelectronics by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company’s stock worth $103,501,000 after purchasing an additional 750,472 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of United Microelectronics by 178.5% in the fourth 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 period. Finally, Barclays PLC boosted its position in shares of United Microelectronics by 8.1% in the third 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 period. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UMC has been the subject of a number of research reports. Wedbush lowered shares of United Microelectronics from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 16th. Citigroup upgraded shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $7.69 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The firm has a fifty day moving average price of $6.83 and a 200 day moving average price of $6.62. 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 $19.26 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 4.44 and a beta of 1.13.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $57.63 billion. During the same quarter last year, the business earned $0.13 EPS. United Microelectronics’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect 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.