Jennison Associates LLC Invests $5.67 Million in United Microelectronics Co. (NYSE:UMC)

Jennison Associates LLC bought a new position in United Microelectronics Co. (NYSE:UMC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 670,359 shares of the semiconductor company's stock, valued at approximately $5,671,000.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of United Microelectronics by 19.8% during the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 1,514 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in United Microelectronics in the 3rd quarter valued at $76,000. Intelligence Driven Advisers LLC acquired a new stake in United Microelectronics in the 3rd quarter valued at $77,000. Enterprise Financial Services Corp acquired a new stake in United Microelectronics in the 3rd quarter valued at $78,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in United Microelectronics in the 3rd quarter valued at $80,000. Institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

UMC has been the topic of several recent research reports. HSBC upgraded shares of United Microelectronics from a "reduce" rating to a "hold" rating in a research note on Thursday, January 25th. Citigroup upgraded shares of United Microelectronics from a "neutral" rating to a "buy" rating in a research note on Wednesday. Finally, The Goldman Sachs Group lowered shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $8.90 price target on the stock. in a research note on Tuesday, January 16th.

United Microelectronics Stock Performance

Shares of United Microelectronics stock traded up $0.03 during trading on Friday, hitting $7.79. 10,510,385 shares of the stock were exchanged, compared to its average volume of 8,521,722. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.17 and a beta of 1.21. The company has a fifty day moving average price of $7.93 and a 200-day moving average price of $7.85. United Microelectronics Co. has a 1-year low of $6.71 and a 1-year high of $8.97. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. As a group, equities analysts predict that United Microelectronics Co. will post 0.61 EPS for the current fiscal year.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.