Bayesian Capital Management LP Purchases New Shares in United Microelectronics Co. (NYSE:UMC)

Bayesian Capital Management LP bought a new position 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 SEC. The fund bought 83,100 shares of the semiconductor company's stock, valued at approximately $539,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in United Microelectronics by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company's stock valued at $6,787,000 after buying an additional 53,264 shares in the last quarter. Barclays PLC lifted its stake in 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 buying an additional 240,380 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in United Microelectronics by 6.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 83,851 shares of the semiconductor company's stock valued at $544,000 after buying an additional 5,377 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 246,034 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in United Microelectronics in the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Trading Up 3.0%

Shares of UMC stock traded up $0.23 during mid-day trading on Monday, reaching $7.68. The company's stock had a trading volume of 6,303,044 shares, compared to its average volume of 12,598,142. The company's 50 day simple moving average is $6.81 and its 200-day simple moving average is $6.62. United Microelectronics Co. has a 12-month low of $5.61 and a 12-month high of $9.00. 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 firm has a market capitalization of $19.23 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 4.44 and a beta of 1.13.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its 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 net margin of 20.35% and a return on equity of 12.78%. The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $57.63 billion. During the same period in the prior year, the business posted $0.13 EPS. The business's revenue was up 1.9% on a year-over-year basis. On average, research analysts predict that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

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.