United Microelectronics Co. (NYSE:UMC) Given Consensus Rating of “Hold” by Brokerages

United Microelectronics Co. (NYSE:UMC) has received a consensus recommendation of “Hold” from the four ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.40.

UMC has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a report on Thursday, October 17th. Finally, Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday.

Institutional Trading of United Microelectronics

Several hedge funds and other institutional investors have recently bought and sold shares of UMC. Marshall Wace LLP raised its stake in United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after purchasing an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP increased its holdings in United Microelectronics by 81.7% in the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock valued at $33,983,000 after buying an additional 1,744,721 shares during the period. Vanguard Group Inc. increased its holdings in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after buying an additional 434,018 shares during the period. Acadian Asset Management LLC increased its holdings in United Microelectronics by 114.4% in the 2nd quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after buying an additional 234,606 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in United Microelectronics by 6,339.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company’s stock valued at $1,160,000 after buying an additional 135,668 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Trading Down 4.0 %

NYSE UMC traded down $0.30 on Wednesday, hitting $7.11. 8,396,870 shares of the stock were exchanged, compared to its average volume of 10,012,141. United Microelectronics has a 52-week low of $7.02 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 4.12 and a beta of 1.18. The company’s 50-day moving average price is $8.31 and its two-hundred day moving average price is $8.28.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. During the same quarter in the previous year, the business earned $0.20 EPS. Research analysts predict that United Microelectronics will post 0.66 EPS for the current year.

About United Microelectronics

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