Lindbrook Capital LLC Reduces Stock Position in United Microelectronics Co. (NYSE:UMC)

Lindbrook Capital LLC trimmed its holdings in United Microelectronics Co. (NYSE:UMC) by 30.0% in the 4th quarter, HoldingsChannel reports. The fund owned 24,980 shares of the semiconductor company’s stock after selling 10,703 shares during the quarter. Lindbrook Capital LLC’s holdings in United Microelectronics were worth $162,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in United Microelectronics by 96.0% in the third quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock worth $1,258,000 after acquiring an additional 73,202 shares during the period. JPMorgan Chase & Co. grew its position in United Microelectronics by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock worth $6,787,000 after acquiring an additional 53,264 shares during the period. Two Sigma Advisers LP grew its position in 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 United Microelectronics in the third quarter worth approximately $1,099,000. Finally, MML Investors Services LLC purchased a new position in United Microelectronics in the third quarter worth approximately $86,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UMC. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Citigroup lowered United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Up 1.3 %

UMC opened at $6.75 on Friday. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The business has a fifty day simple moving average of $6.26 and a 200-day simple moving average of $7.15. The firm has a market cap of $16.90 billion, a P/E ratio of 11.63, a P/E/G ratio of 4.44 and a beta of 1.20. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

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