United Microelectronics (NYSE:UMC) Raised to “Hold” at ValuEngine

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

Other research analysts also recently issued research reports about the company. Macquarie raised United Microelectronics from a neutral rating to an outperform rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised United Microelectronics from an underweight rating to a neutral rating in a research note on Wednesday, September 9th. HSBC raised United Microelectronics from a hold rating to a buy rating in a research note on Monday, September 14th. Finally, Goldman Sachs Group raised United Microelectronics from a neutral rating to a buy rating and set a $5.30 price objective on the stock in a research note on Sunday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $11.55.

UMC stock opened at $4.34 on Friday. The business’s fifty day moving average is $3.90 and its 200-day moving average is $2.89. The company has a quick ratio of 2.22, a current ratio of 2.58 and a debt-to-equity ratio of 0.28. The company has a market cap of $10.18 billion, a P/E ratio of 20.67 and a beta of 1.00. United Microelectronics has a twelve month low of $2.08 and a twelve month high of $4.69.

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

A number of institutional investors have recently modified their holdings of UMC. FMR LLC raised its stake in United Microelectronics by 256,831,800.0% during the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock worth $4,828,000 after buying an additional 2,568,318 shares during the period. Banco de Sabadell S.A grew its holdings in shares of United Microelectronics by 697.3% in the 2nd quarter. Banco de Sabadell S.A now owns 2,025,440 shares of the semiconductor company’s stock valued at $5,286,000 after acquiring an additional 1,771,388 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of United Microelectronics by 138.2% in the 1st quarter. Jane Street Group LLC now owns 906,996 shares of the semiconductor company’s stock valued at $1,968,000 after acquiring an additional 526,278 shares in the last quarter. BFAM Partners Cayman Ltd bought a new position in shares of United Microelectronics in the 1st quarter valued at about $972,000. Finally, Wellington Management Group LLP grew its holdings in shares of United Microelectronics by 136.0% in the 1st quarter. Wellington Management Group LLP now owns 477,858 shares of the semiconductor company’s stock valued at $1,037,000 after acquiring an additional 275,408 shares in the last quarter. 5.01% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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