United Microelectronics (NYSE:UMC) Upgraded at HSBC

HSBC upgraded shares of United Microelectronics (NYSE:UMC) from a hold rating to a buy rating in a research report report published on Monday, The Fly reports.

UMC has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded shares of United Microelectronics from an underweight rating to a neutral rating in a research note on Wednesday, September 9th. Macquarie upgraded shares of United Microelectronics from a neutral rating to an outperform rating in a research note on Wednesday, July 29th. Goldman Sachs Group upgraded shares of United Microelectronics from a neutral rating to a buy rating and set a $5.30 price target on the stock in a research note on Sunday, August 2nd. Finally, ValuEngine cut shares of United Microelectronics from a hold rating to a sell rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $11.55.

UMC opened at $4.30 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.22 and a current ratio of 2.58. United Microelectronics has a fifty-two week low of $2.08 and a fifty-two week high of $4.69. The firm’s fifty day moving average is $3.87 and its 200 day moving average is $2.87. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 20.48 and a beta of 1.00.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, July 29th. The semiconductor company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. United Microelectronics had a net margin of 9.45% and a return on equity of 7.60%. The company had revenue of $44.39 billion for the quarter, compared to analysts’ expectations of $43.63 billion. During the same quarter in the previous year, the company earned $0.15 EPS. United Microelectronics’s revenue for the quarter was up 23.2% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP purchased a new stake in shares of United Microelectronics during the 2nd quarter valued at about $142,000. Wells Fargo & Company MN raised its position in shares of United Microelectronics by 10.9% during the 1st quarter. Wells Fargo & Company MN now owns 201,388 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 19,835 shares in the last quarter. Schroder Investment Management Group raised its position in shares of United Microelectronics by 67.7% during the 1st quarter. Schroder Investment Management Group now owns 139,993 shares of the semiconductor company’s stock valued at $321,000 after buying an additional 56,516 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of United Microelectronics during the 1st quarter valued at about $49,000. Finally, State Street Corp raised its position in shares of United Microelectronics by 3.8% during the 1st quarter. State Street Corp now owns 3,983,169 shares of the semiconductor company’s stock valued at $8,643,000 after buying an additional 147,115 shares in the last quarter. Hedge funds and other institutional investors own 5.01% of the company’s stock.

United Microelectronics Company Profile

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.

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