United Microelectronics Co. (NYSE:UMC) Shares Sold by Foster Group Inc.

Foster Group Inc. cut its stake in United Microelectronics Co. (NYSE:UMC) by 63.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,636 shares of the semiconductor company’s stock after selling 22,145 shares during the period. Foster Group Inc.’s holdings in United Microelectronics were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of United Microelectronics by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock worth $6,787,000 after purchasing an additional 53,264 shares during the period. Victory Capital Management Inc. lifted its stake in United Microelectronics by 96.0% during the 3rd quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after acquiring an additional 73,202 shares during the period. Two Sigma Advisers LP increased its stake in shares of United Microelectronics by 314.1% in the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after acquiring an additional 970,600 shares during the period. Verition Fund Management LLC purchased a new position in shares of United Microelectronics during the third quarter worth $1,099,000. Finally, MML Investors Services LLC acquired a new position in United Microelectronics during the third quarter valued at $86,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of UMC stock opened at $5.73 on Thursday. 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 Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The business’s 50 day moving average is $6.47 and its two-hundred day moving average is $7.49. The company has a market capitalization of $14.35 billion, a P/E ratio of 9.88, a P/E/G ratio of 3.88 and a beta of 1.17.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on UMC shares. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, 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 assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.40.

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.