Canada Pension Plan Investment Board trimmed its position in United Microelectronics Corp (NYSE:UMC) by 90.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,510 shares of the semiconductor company’s stock after selling 337,500 shares during the period. Canada Pension Plan Investment Board’s holdings in United Microelectronics were worth $106,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in United Microelectronics in the 2nd quarter worth about $50,527,000. Aperio Group LLC boosted its holdings in United Microelectronics by 7.6% in the 2nd quarter. Aperio Group LLC now owns 10,747,314 shares of the semiconductor company’s stock worth $30,307,000 after buying an additional 757,796 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in United Microelectronics by 315.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 649,927 shares of the semiconductor company’s stock worth $1,833,000 after buying an additional 493,623 shares during the last quarter. Bank of Montreal Can acquired a new stake in United Microelectronics in the 2nd quarter worth about $1,058,000. Finally, Wetherby Asset Management Inc. boosted its holdings in United Microelectronics by 17.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 234,684 shares of the semiconductor company’s stock worth $662,000 after buying an additional 34,474 shares during the last quarter. Institutional investors own 5.39% of the company’s stock.

Several research firms recently issued reports on UMC. Morgan Stanley upgraded United Microelectronics from an “underweight” rating to an “equal weight” rating in a report on Monday, July 2nd. Mizuho upgraded United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Monday, July 9th. Finally, Sanford C. Bernstein upgraded United Microelectronics from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $2.10 to $2.60 in a report on Sunday, June 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. United Microelectronics presently has a consensus rating of “Hold” and a consensus price target of $2.60.

Shares of United Microelectronics stock opened at $2.66 on Monday. The company has a market cap of $6.50 billion, a PE ratio of 15.65 and a beta of 0.51. United Microelectronics Corp has a 1-year low of $2.32 and a 1-year high of $3.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 2.32.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, July 25th. The semiconductor company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The business had revenue of $38.85 million for the quarter, compared to analysts’ expectations of $40.93 billion. United Microelectronics had a return on equity of 5.74% and a net margin of 8.16%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS.

United Microelectronics Profile

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

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Institutional Ownership by Quarter for United Microelectronics (NYSE:UMC)

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