United Microelectronics (NYSE:UMC) Rating Increased to Buy at Citigroup

United Microelectronics (NYSE:UMC) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports.

UMC has been the subject of a number of other reports. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price objective for the company. in a research report on Tuesday, January 16th. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research report on Thursday, January 25th.

United Microelectronics Stock Up 0.8 %

Shares of UMC opened at $7.76 on Wednesday. United Microelectronics has a 52-week low of $6.71 and a 52-week high of $8.97. The company has a market capitalization of $19.41 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21. The stock has a fifty day simple moving average of $7.93 and a two-hundred day simple moving average of $7.84. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. As a group, equities analysts forecast that United Microelectronics will post 0.6 EPS for the current year.

Institutional Trading of United Microelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of UMC. GAMMA Investing LLC acquired a new stake in shares of United Microelectronics during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC grew its position in United Microelectronics by 19.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,514 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in United Microelectronics in the 3rd quarter valued at about $76,000. Intelligence Driven Advisers LLC acquired a new position in United Microelectronics in the 3rd quarter valued at about $77,000. Finally, Enterprise Financial Services Corp acquired a new position in United Microelectronics in the 3rd quarter valued at about $78,000. 5.05% of the stock is owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.