Hennion & Walsh Asset Management Inc. Reduces Stock Holdings in United Microelectronics Corporation $UMC

Hennion & Walsh Asset Management Inc. reduced its position in shares of United Microelectronics Corporation (NYSE:UMC) by 46.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,571 shares of the semiconductor company’s stock after selling 73,802 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in United Microelectronics were worth $656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. purchased a new position in shares of United Microelectronics during the 2nd quarter valued at $24,024,000. Rafferty Asset Management LLC boosted its stake in United Microelectronics by 50.7% during the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after buying an additional 2,826,486 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of United Microelectronics by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of United Microelectronics by 84.4% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 970,407 shares of the semiconductor company’s stock worth $7,424,000 after buying an additional 444,106 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of United Microelectronics by 34.0% in the 2nd quarter. Creative Planning now owns 1,689,542 shares of the semiconductor company’s stock valued at $12,925,000 after acquiring an additional 428,522 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Up 2.8%

UMC stock opened at $8.79 on Friday. United Microelectronics Corporation has a 12 month low of $5.61 and a 12 month high of $9.11. The company has a current ratio of 2.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.15. The company has a market cap of $22.09 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 4.76 and a beta of 1.08. The firm has a 50-day moving average of $7.75 and a two-hundred day moving average of $7.40.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. During the same period in the previous year, the firm earned $0.18 EPS. As a group, analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UMC has been the subject of a number of analyst reports. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. Finally, Bank of America downgraded United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Microelectronics has a consensus rating of “Hold”.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.