United Microelectronics Co. (NYSE:UMC) Receives $7.30 Average Price Target from Analysts

Shares of United Microelectronics Co. (NYSE:UMC) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.30.

UMC has been the topic of a number of recent research reports. Zacks Investment Research lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Friday, August 27th. The Goldman Sachs Group raised United Microelectronics from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, July 28th. Sanford C. Bernstein lowered United Microelectronics from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $8.40 to $7.30 in a research note on Monday, June 7th. Credit Suisse Group raised United Microelectronics from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 28th. Finally, JPMorgan Chase & Co. upgraded United Microelectronics from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 28th.

NYSE UMC opened at $11.73 on Wednesday. The stock’s fifty day moving average is $10.77 and its two-hundred day moving average is $9.74. The firm has a market capitalization of $29.09 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 0.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.44. United Microelectronics has a fifty-two week low of $4.20 and a fifty-two week high of $12.61.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Tuesday, July 27th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. United Microelectronics had a return on equity of 18.21% and a net margin of 22.71%. As a group, sell-side analysts forecast that United Microelectronics will post 0.72 EPS for the current year.

The firm also recently disclosed an annual dividend, which was paid on Friday, August 20th. Stockholders of record on Thursday, July 22nd were given a dividend of $0.2854 per share. This is a boost from United Microelectronics’s previous annual dividend of $0.14. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, July 21st. United Microelectronics’s dividend payout ratio is currently 52.38%.

Several large investors have recently added to or reduced their stakes in UMC. FMR LLC boosted its position in shares of United Microelectronics by 256,831,800.0% in the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock valued at $4,828,000 after purchasing an additional 2,568,318 shares during the period. Comerica Bank boosted its position in shares of United Microelectronics by 4.1% in the 1st quarter. Comerica Bank now owns 139,503 shares of the semiconductor company’s stock valued at $1,482,000 after purchasing an additional 5,497 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of United Microelectronics by 24.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 25,791 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 5,102 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of United Microelectronics in the 1st quarter valued at about $301,000. Finally, TCW Group Inc. acquired a new stake in shares of United Microelectronics in the 1st quarter valued at about $519,000. 3.59% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Company Profile

United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors.

Further Reading: Determine Your Level of Risk Tolerance

Analyst Recommendations for United Microelectronics (NYSE:UMC)

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.