Sequoia Financial Advisors LLC Has $875,000 Holdings in United Microelectronics Co. (NYSE:UMC)

Sequoia Financial Advisors LLC boosted its stake in United Microelectronics Co. (NYSE:UMC) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,907 shares of the semiconductor company’s stock after purchasing an additional 1,701 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in United Microelectronics were worth $875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC acquired a new position in United Microelectronics in the third quarter valued at about $84,000. SpiderRock Advisors LLC acquired a new position in United Microelectronics in the first quarter valued at about $86,000. Aprio Wealth Management LLC acquired a new position in United Microelectronics in the second quarter valued at about $95,000. Finally, Simon Quick Advisors LLC acquired a new position in United Microelectronics in the second quarter valued at about $103,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research report on Thursday, October 17th.

United Microelectronics Stock Performance

United Microelectronics stock opened at $7.74 on Friday. United Microelectronics Co. has a 12-month low of $7.02 and a 12-month high of $9.00. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $8.37 and its two-hundred day moving average price is $8.29. The stock has a market cap of $19.38 billion, a PE ratio of 11.05, a P/E/G ratio of 4.15 and a beta of 1.18.

United Microelectronics (NYSE:UMC) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. During the same quarter in the previous year, the business posted $0.20 earnings per share. As a group, analysts expect that United Microelectronics Co. will post 0.66 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.