Viking Fund Management LLC Acquires New Stake in United Microelectronics Co. (NYSE:UMC)

Viking Fund Management LLC bought a new stake in United Microelectronics Co. (NYSE:UMC) during the third quarter, HoldingsChannel.com reports. The fund bought 10,000 shares of the semiconductor company’s stock, valued at approximately $84,000.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 3,242 shares during the period. SpiderRock Advisors LLC acquired a new stake in shares of United Microelectronics during the first quarter worth $86,000. Aprio Wealth Management LLC purchased a new stake in shares of United Microelectronics in the second quarter valued at $95,000. Leo Wealth LLC acquired a new position in United Microelectronics in the fourth quarter valued at $95,000. Finally, Simon Quick Advisors LLC acquired a new position in United Microelectronics in the second quarter valued at $103,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, August 1st.

United Microelectronics Stock Performance

NYSE:UMC opened at $8.09 on Monday. The company has a market cap of $20.27 billion, a P/E ratio of 11.56, a P/E/G ratio of 4.28 and a beta of 1.18. The firm’s 50 day moving average is $8.48 and its two-hundred day moving average is $8.31. United Microelectronics Co. has a fifty-two week low of $6.96 and a fifty-two week high of $9.00. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. During the same period last year, the company posted $0.20 EPS. Analysts expect that United Microelectronics Co. will post 0.66 EPS for the current 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.