Balyasny Asset Management L.P. Invests $1.41 Million in United Microelectronics Co. (NYSE:UMC)

Balyasny Asset Management L.P. bought 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 disclosure with the SEC. The fund bought 217,435 shares of the semiconductor company's stock, valued at approximately $1,411,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Savant Capital LLC acquired a new stake in shares of United Microelectronics during the 4th quarter valued at about $66,000. Verdence Capital Advisors LLC acquired a new stake in shares of United Microelectronics during the 4th quarter valued at about $69,000. Callan Family Office LLC acquired a new stake in United Microelectronics in the 4th quarter worth approximately $70,000. SBI Securities Co. Ltd. acquired a new stake in United Microelectronics in the 4th quarter worth approximately $73,000. Finally, Natural Investments LLC acquired a new stake in United Microelectronics in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UMC. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a report on Friday, March 21st. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, United Microelectronics has a consensus rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Performance

Shares of UMC stock traded up $0.05 during trading hours on Monday, reaching $7.91. 6,735,723 shares of the company's stock were exchanged, compared to its average volume of 12,672,031. United Microelectronics Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.00. The stock has a market capitalization of $19.82 billion, a P/E ratio of 13.64, a P/E/G ratio of 4.44 and a beta of 1.13. The business has a fifty day moving average price of $6.94 and a 200-day moving average price of $6.65. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $57.63 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that United Microelectronics Co. will post 0.51 EPS 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.