Stifel Financial Corp Reduces Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Stifel Financial Corp lessened its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,181 shares of the semiconductor company’s stock after selling 1,962 shares during the period. Stifel Financial Corp’s holdings in United Microelectronics were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in United Microelectronics by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock valued at $6,787,000 after buying an additional 53,264 shares in the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after purchasing an additional 240,380 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in United Microelectronics by 6.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company’s stock worth $544,000 after purchasing an additional 5,377 shares during the period. Allspring Global Investments Holdings LLC boosted its position in United Microelectronics by 178.5% during 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 in the last quarter. Finally, Savant Capital LLC acquired a new stake in United Microelectronics in the fourth quarter valued at approximately $66,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UMC shares. Wedbush downgraded United Microelectronics from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. Citigroup raised shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, United Microelectronics currently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Trading Up 0.9 %

UMC stock opened at $7.45 on Friday. The business’s 50-day moving average is $6.81 and its 200 day moving average is $6.64. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.44 and a beta of 1.13. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results 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 return on equity of 12.78% and a net margin of 20.35%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $57.63 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

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.