153,404 Shares of United Microelectronics Corporation $UMC Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of United Microelectronics Corporation (NYSE:UMC) during the third quarter, Holdings Channel.com reports. The fund acquired 153,404 shares of the semiconductor company’s stock, valued at approximately $3,757,000.

A number of other institutional investors have also made changes to their positions in the company. Vise Technologies Inc. lifted its stake in shares of United Microelectronics by 16.0% in the third quarter. Vise Technologies Inc. now owns 202,826 shares of the semiconductor company’s stock worth $4,967,000 after acquiring an additional 27,946 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at about $815,000. Canopy Partners LLC lifted its holdings in United Microelectronics by 3.4% during the 3rd quarter. Canopy Partners LLC now owns 27,022 shares of the semiconductor company’s stock worth $662,000 after buying an additional 879 shares during the last quarter. Founders Financial Securities LLC acquired a new position in United Microelectronics in the third quarter worth $1,719,000. Finally, Interchange Capital Partners LLC acquired a new stake in United Microelectronics during the third quarter worth about $216,000. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Price Performance

United Microelectronics stock traded up $0.48 during midday trading on Friday, hitting $13.86. The company’s stock had a trading volume of 16,775,106 shares, compared to its average volume of 11,333,096. The company has a quick ratio of 2.75, a current ratio of 3.27 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $21.25 and its 200-day moving average price is $17.16. United Microelectronics Corporation has a 12 month low of $6.97 and a 12 month high of $28.96. The company has a market capitalization of $34.90 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.43 and a beta of 1.76.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.33 billion. United Microelectronics had a net margin of 31.96% and a return on equity of 20.12%. Analysts anticipate that United Microelectronics Corporation will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UMC shares. Weiss Ratings lowered United Microelectronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Zacks Research lowered United Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. HSBC upgraded United Microelectronics from a “hold” rating to a “buy” rating and cut their target price for the company from $37.42 to $33.76 in a research note on Thursday, July 30th. Finally, Arete Research raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $36.79.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. It provides wafer fabrication and related services to fabless chip designers and integrated device manufacturers, rather than selling its own branded semiconductor products.

Founded in 1980, UMC was Taiwan’s first semiconductor company. Its manufacturing and technology offerings serve applications including communications, consumer electronics, computing, automotive and industrial products.