Balyasny Asset Management L.P. Takes Position in United Microelectronics Co. (NYSE:UMC)

Balyasny Asset Management L.P. acquired a new stake in shares of United Microelectronics Co. (NYSE:UMC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 217,435 shares of the semiconductor company's stock, valued at approximately $1,411,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in United Microelectronics by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock valued at $103,501,000 after acquiring an additional 750,472 shares in the last quarter. Fisher Asset Management LLC lifted its stake in United Microelectronics by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock valued at $47,379,000 after acquiring an additional 237,024 shares in the last quarter. Barclays PLC lifted its stake in United Microelectronics by 10.7% in the 4th quarter. Barclays PLC now owns 3,547,867 shares of the semiconductor company's stock valued at $23,026,000 after acquiring an additional 341,937 shares in the last quarter. Northern Trust Corp lifted its stake in United Microelectronics by 238.8% in the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock valued at $20,667,000 after acquiring an additional 2,244,574 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in United Microelectronics by 150.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock valued at $13,122,000 after acquiring an additional 1,215,849 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Trading Up 0.4%

Shares of United Microelectronics stock opened at $7.74 on Wednesday. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. The stock has a market cap of $19.40 billion, a P/E ratio of 13.35, a P/E/G ratio of 4.44 and a beta of 1.13. 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 business's 50 day moving average is $6.85 and its 200-day moving average is $6.63.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $57.63 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. Wedbush cut United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.40.

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.

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