Banque Pictet & Cie SA Has $484,000 Holdings in United Microelectronics Co. (NYSE:UMC)

Banque Pictet & Cie SA boosted its stake in shares of United Microelectronics Co. (NYSE:UMC) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,509 shares of the semiconductor company’s stock after buying an additional 2,500 shares during the period. Banque Pictet & Cie SA’s holdings in United Microelectronics were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMC. Two Sigma Advisers LP raised its holdings in United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after buying an additional 970,600 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of United Microelectronics by 178.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 383,842 shares of the semiconductor company’s stock valued at $2,506,000 after purchasing an additional 246,034 shares during the period. Barclays PLC increased its holdings in shares of United Microelectronics by 8.1% in 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 period. XTX Topco Ltd acquired a new position in shares of United Microelectronics in the 3rd quarter valued at about $1,915,000. Finally, FMR LLC increased its holdings in shares of United Microelectronics by 192.7% in the 3rd quarter. FMR LLC now owns 300,738 shares of the semiconductor company’s stock valued at $2,532,000 after purchasing an additional 197,998 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Citigroup cut United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Down 0.6 %

Shares of NYSE UMC opened at $6.27 on Friday. The stock has a market cap of $15.70 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 4.10 and a beta of 1.15. The business has a 50 day simple moving average of $6.28 and a 200 day simple moving average of $7.33. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

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

United Microelectronics 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.