Virtu Financial LLC Makes New Investment in United Microelectronics Co. (NYSE:UMC)

Virtu Financial LLC bought a new position in United Microelectronics Co. (NYSE:UMC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 160,338 shares of the semiconductor company's stock, valued at approximately $1,041,000.

A number of other hedge funds have also added to or reduced their stakes in UMC. Fisher Asset Management LLC grew its holdings in shares of United Microelectronics by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock worth $47,379,000 after acquiring an additional 237,024 shares during the period. State Street Corp grew its stake in shares of United Microelectronics by 1.5% during the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company's stock valued at $30,831,000 after purchasing an additional 53,105 shares during the period. Barclays PLC increased its position in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company's stock valued at $26,995,000 after purchasing an additional 240,380 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company's stock worth $10,774,000 after purchasing an additional 970,600 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of United Microelectronics by 16.5% in the third quarter. BNP Paribas Financial Markets now owns 1,186,187 shares of the semiconductor company's stock worth $9,988,000 after buying an additional 168,399 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, United Microelectronics currently has a consensus rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Stock Performance

UMC traded up $0.03 during midday trading on Thursday, reaching $6.64. The company had a trading volume of 10,801,091 shares, compared to its average volume of 11,594,854. United Microelectronics Co. has a 1 year low of $5.61 and a 1 year high of $9.00. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.63 billion, a P/E ratio of 11.44, a P/E/G ratio of 4.44 and a beta of 1.20. The business has a 50-day moving average of $6.34 and a two-hundred day moving average of $6.96.

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

United Microelectronics Company Profile

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.