ValuEngine Downgrades United Microelectronics (NYSE:UMC) to Sell

ValuEngine lowered shares of United Microelectronics (NYSE:UMC) from a hold rating to a sell rating in a research report report published on Saturday morning, ValuEngine reports.

Several other research firms also recently weighed in on UMC. Macquarie raised United Microelectronics from a neutral rating to an outperform rating in a research note on Wednesday, July 10th. CLSA raised United Microelectronics from a sell rating to an outperform rating in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. United Microelectronics currently has an average rating of Hold and a consensus target price of $1.78.

NYSE UMC opened at $2.23 on Friday. United Microelectronics has a 1-year low of $1.64 and a 1-year high of $2.38. The company has a market capitalization of $5.30 billion, a P/E ratio of 56.50 and a beta of 0.92. The business has a 50 day moving average price of $2.16 and a 200 day moving average price of $2.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.95 and a quick ratio of 1.70.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.02 earnings per share for the quarter. United Microelectronics had a return on equity of 1.41% and a net margin of 2.04%. The firm had revenue of $1.16 billion during the quarter.

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its holdings in United Microelectronics by 52.8% in the second quarter. FNY Investment Advisers LLC now owns 382,000 shares of the semiconductor company’s stock valued at $844,000 after acquiring an additional 132,000 shares during the last quarter. CAPROCK Group Inc. purchased a new position in United Microelectronics in the second quarter valued at about $31,000. BNP Paribas Arbitrage SA raised its position in United Microelectronics by 4.2% in the second quarter. BNP Paribas Arbitrage SA now owns 162,859 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 6,555 shares during the period. Jane Street Group LLC purchased a new position in United Microelectronics in the second quarter valued at about $177,000. Finally, Corient Capital Partners LLC raised its position in United Microelectronics by 33.1% in the second quarter. Corient Capital Partners LLC now owns 55,785 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 13,866 shares during the period. Hedge funds and other institutional investors own 5.26% of the company’s stock.

About United Microelectronics

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

See Also: Buy-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for United Microelectronics (NYSE:UMC)

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