United Microelectronics Co. (NYSE:UMC) Position Reduced by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC decreased its holdings in shares of United Microelectronics Co. (NYSE:UMC) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,830 shares of the semiconductor company’s stock after selling 5,539 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in United Microelectronics were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Assetmark Inc. purchased a new position in United Microelectronics during the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC acquired a new position in United Microelectronics in the 3rd quarter valued at approximately $84,000. MML Investors Services LLC purchased a new stake in United Microelectronics in the 3rd quarter worth approximately $86,000. Finally, Synovus Financial Corp acquired a new stake in shares of United Microelectronics during the 3rd quarter valued at $89,000. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Trading Up 0.1 %

Shares of NYSE:UMC opened at $6.03 on Wednesday. The stock has a market capitalization of $15.10 billion, a PE ratio of 10.39, a P/E/G ratio of 3.92 and a beta of 1.15. United Microelectronics Co. has a 1 year low of $5.61 and a 1 year high of $9.00. The firm has a fifty day moving average price of $6.39 and a 200 day moving average price of $7.43. 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 data 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 business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.30 earnings per share. Analysts expect that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UMC shares. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research note on Thursday, October 17th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, Citigroup lowered shares of United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company presently 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.