Stock Traders Buy High Volume of Put Options on United Microelectronics (NYSE:UMC)

United Microelectronics Co. (NYSE:UMC) saw some unusual options trading on Wednesday. Stock investors bought 44,571 put options on the company. This is an increase of 704% compared to the average volume of 5,546 put options.

NYSE:UMC traded up $0.06 during mid-day trading on Wednesday, reaching $11.38. 170,681 shares of the stock were exchanged, compared to its average volume of 7,181,326. The business has a fifty day moving average price of $11.03 and a 200 day moving average price of $10.34. The firm has a market capitalization of $28.22 billion, a PE ratio of 15.09, a PEG ratio of 0.50 and a beta of 0.95. United Microelectronics has a 1-year low of $6.66 and a 1-year high of $12.61. The company has a current ratio of 2.44, a quick ratio of 2.18 and a debt-to-equity ratio of 0.21.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. The firm had revenue of $55.91 billion for the quarter, compared to analysts’ expectations of $54.55 billion. United Microelectronics had a return on equity of 21.41% and a net margin of 25.65%. United Microelectronics’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, sell-side analysts forecast that United Microelectronics will post 0.81 earnings per share for the current year.

A number of brokerages have recently commented on UMC. Credit Suisse Group raised United Microelectronics from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 28th. The Goldman Sachs Group raised United Microelectronics from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, July 28th. Zacks Investment Research raised United Microelectronics from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, September 30th. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, July 29th. Finally, JPMorgan Chase & Co. raised United Microelectronics from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, United Microelectronics has an average rating of “Buy” and an average target price of $10.15.

Institutional investors and hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc purchased a new position in United Microelectronics in the 3rd quarter worth about $30,000. Captrust Financial Advisors increased its stake in United Microelectronics by 83.5% in the 3rd quarter. Captrust Financial Advisors now owns 2,799 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 1,274 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in United Microelectronics in the 2nd quarter worth about $35,000. Harvest Fund Management Co. Ltd purchased a new position in United Microelectronics in the 2nd quarter worth about $82,000. Finally, HighTower Advisors LLC purchased a new position in United Microelectronics in the 3rd quarter worth about $121,000. 3.63% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors.

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