United Microelectronics Co. (NYSE:UMC) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its position in United Microelectronics Co. (NYSE:UMC - Free Report) by 958.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 982,840 shares of the semiconductor company's stock after buying an additional 889,972 shares during the period. AQR Capital Management LLC's holdings in United Microelectronics were worth $6,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UMC. Northern Trust Corp boosted its position 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 buying an additional 2,244,574 shares during the last quarter. Renaissance Technologies LLC purchased a new position in United Microelectronics in the 4th quarter valued at about $12,768,000. JPMorgan Chase & Co. boosted its position 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 buying an additional 1,215,849 shares during the last quarter. Vanguard Group Inc. boosted its position 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 buying an additional 750,472 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its position in United Microelectronics by 130.5% in the 4th quarter. Aquatic Capital Management LLC now owns 851,183 shares of the semiconductor company's stock valued at $5,524,000 after buying an additional 481,983 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UMC shares. Citigroup raised shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Wedbush cut shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research 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. According to MarketBeat, United Microelectronics has a consensus rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Up 0.4%

Shares of UMC stock traded up $0.03 during trading hours on Tuesday, hitting $7.74. 2,425,489 shares of the company were exchanged, compared to its average volume of 12,616,177. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics Co. has a one year low of $5.61 and a one year high of $9.00. The business's 50-day simple moving average is $6.83 and its two-hundred day simple moving average is $6.62. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 4.44 and a beta of 1.13.

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 the consensus estimate 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 period in the previous year, the business posted $0.13 EPS. The business's revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side 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.