Parallel Advisors LLC Cuts Stock Holdings in United Microelectronics Co. (NYSE:UMC)

Parallel Advisors LLC trimmed its stake in shares of United Microelectronics Co. (NYSE:UMC) by 25.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 81,346 shares of the semiconductor company’s stock after selling 27,774 shares during the period. Parallel Advisors LLC’s holdings in United Microelectronics were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UMC. Savant Capital LLC purchased a new position in United Microelectronics during the fourth quarter valued at $66,000. Verdence Capital Advisors LLC purchased a new position in United Microelectronics during the fourth quarter valued at $69,000. Callan Family Office LLC purchased a new position in United Microelectronics during the fourth quarter valued at $70,000. SBI Securities Co. Ltd. purchased a new position in United Microelectronics during the fourth quarter valued at $73,000. Finally, Natural Investments LLC purchased a new position in United Microelectronics during the fourth quarter valued at $74,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, United Microelectronics presently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

Shares of NYSE:UMC opened at $6.75 on Friday. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The stock has a market capitalization of $16.90 billion, a P/E ratio of 11.63, a PEG ratio of 4.44 and a beta of 1.20. The firm has a fifty day simple moving average of $6.30 and a two-hundred day simple moving average of $7.02. 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 (NYSE:UMC) last issued its quarterly earnings data on Tuesday, January 21st. The semiconductor company reported $0.10 EPS 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 business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $5.30 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts expect that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

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.