Ashton Thomas Private Wealth LLC Makes New Investment in United Microelectronics Co. (NYSE:UMC)

Ashton Thomas Private Wealth LLC purchased a new position in shares of United Microelectronics Co. (NYSE:UMC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,770 shares of the semiconductor company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMC. Two Sigma Advisers LP raised its position in shares of United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after buying an additional 970,600 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 in the last quarter. Barclays PLC raised its holdings 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 worth $26,995,000 after purchasing an additional 240,380 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of 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 in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of United Microelectronics in the 3rd quarter worth approximately $1,915,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on UMC shares. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Citigroup downgraded shares of United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

United Microelectronics stock opened at $6.69 on Wednesday. The firm’s 50 day simple moving average is $6.27 and its 200-day simple moving average is $7.09. The company has a market cap of $16.75 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 4.44 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00.

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

United Microelectronics Company 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.