Graham Capital Management L.P. Boosts Stock Position in United Microelectronics Co. (NYSE:UMC)

Graham Capital Management L.P. increased its position in shares of United Microelectronics Co. (NYSE:UMC - Free Report) by 517.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,701 shares of the semiconductor company's stock after buying an additional 231,051 shares during the quarter. Graham Capital Management L.P.'s holdings in United Microelectronics were worth $1,789,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth approximately $66,000. Verdence Capital Advisors LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth approximately $69,000. Callan Family Office LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth approximately $70,000. SBI Securities Co. Ltd. purchased a new stake in shares of United Microelectronics in the fourth quarter worth approximately $73,000. Finally, Natural Investments LLC purchased a new stake in shares of United Microelectronics in the fourth quarter worth approximately $74,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

United Microelectronics Stock Performance

Shares of UMC stock traded down $0.01 during trading on Friday, hitting $7.84. The company's stock had a trading volume of 4,509,288 shares, compared to its average volume of 12,695,871. The company has a market cap of $19.63 billion, a PE ratio of 13.51, a P/E/G ratio of 4.44 and a beta of 1.13. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $6.91 and a 200-day moving average of $6.64. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00.

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