AQR Capital Management LLC Buys 452,788 Shares of United Microelectronics Corporation $UMC

Key Points

• AQR Capital Management LLC increased its stake in United Microelectronics Corporation by 46.1%, owning approximately 1,435,628 shares worth about $10.27 million as of its latest SEC filing.
• Despite the increased interest from AQR and other institutional investors, Goldman Sachs issued a "sell" rating for United Microelectronics, reflecting a mixed outlook with a current consensus rating of "Hold".
• United Microelectronics reported $0.12 EPS for its latest quarter, which was below analysts' expectations of $0.14, indicating ongoing challenges in meeting market forecasts.

AQR Capital Management LLC raised its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 46.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,435,628 shares of the semiconductor company's stock after acquiring an additional 452,788 shares during the quarter. AQR Capital Management LLC owned about 0.06% of United Microelectronics worth $10,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV boosted its position in shares of United Microelectronics by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company's stock worth $233,000 after purchasing an additional 1,599 shares in the last quarter. Freedom Investment Management Inc. boosted its position in shares of United Microelectronics by 7.5% during the 1st quarter. Freedom Investment Management Inc. now owns 24,869 shares of the semiconductor company's stock worth $178,000 after purchasing an additional 1,730 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of United Microelectronics by 8.2% during the 1st quarter. Sivia Capital Partners LLC now owns 23,380 shares of the semiconductor company's stock worth $167,000 after purchasing an additional 1,773 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of United Microelectronics by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 63,408 shares of the semiconductor company's stock worth $453,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Canopy Partners LLC boosted its position in shares of United Microelectronics by 8.0% during the 1st quarter. Canopy Partners LLC now owns 26,781 shares of the semiconductor company's stock worth $191,000 after purchasing an additional 1,977 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Down 0.1%

NYSE:UMC traded down $0.01 on Friday, hitting $6.76. The stock had a trading volume of 3,153,582 shares, compared to its average volume of 5,115,935. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. The stock has a market cap of $16.98 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 4.07 and a beta of 1.06. United Microelectronics Corporation has a 1 year low of $5.61 and a 1 year high of $8.86. The firm's fifty day simple moving average is $7.01 and its two-hundred day simple moving average is $7.16.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $61.88 billion. United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. During the same quarter last year, the business posted $0.17 EPS. Analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group reissued a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, United Microelectronics presently has a consensus rating of "Hold" and an average target price of $7.40.

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.