Renaissance Technologies LLC Takes Position in United Microelectronics Co. (NYSE:UMC)

Renaissance Technologies LLC bought a new position in shares of United Microelectronics Co. (NYSE:UMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,967,384 shares of the semiconductor company's stock, valued at approximately $12,768,000. Renaissance Technologies LLC owned 0.08% of United Microelectronics as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of United Microelectronics by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock valued at $103,501,000 after purchasing an additional 750,472 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of United Microelectronics by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock worth $47,379,000 after buying an additional 237,024 shares in the last quarter. State Street Corp raised its stake in shares of United Microelectronics by 1.5% in the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company's stock worth $30,831,000 after buying an additional 53,105 shares in the last quarter. Barclays PLC boosted its stake in United Microelectronics by 8.1% during the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company's stock valued at $26,995,000 after buying an additional 240,380 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in United Microelectronics by 150.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock worth $13,122,000 after acquiring an additional 1,215,849 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Down 1.9 %

Shares of UMC traded down $0.13 during mid-day trading on Monday, reaching $6.68. The company's stock had a trading volume of 404,877 shares, compared to its average volume of 12,396,029. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics Co. has a 1 year low of $5.61 and a 1 year high of $9.00. The business has a fifty day moving average of $6.60 and a 200 day moving average of $6.72. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 4.44 and a beta of 1.12.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $5.30 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on UMC shares. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently 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.