United Microelectronics (NYSE:UMC) Shares Gap Up – What’s Next?

United Microelectronics Corporation (NYSE:UMC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.54, but opened at $11.20. United Microelectronics shares last traded at $11.3740, with a volume of 2,243,128 shares.

Wall Street Analyst Weigh In

UMC has been the subject of several research reports. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Bank of America cut United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, United Microelectronics currently has an average rating of “Hold”.

United Microelectronics Price Performance

The company has a market capitalization of $28.58 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 5.60 and a beta of 1.08. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average is $8.20 and its two-hundred day moving average is $7.54.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $58.25 billion. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

Institutional Trading of United Microelectronics

Several institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC bought a new stake in United Microelectronics during the second quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United Microelectronics by 313.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 3,234 shares during the last quarter. Euro Pacific Asset Management LLC purchased a new position in United Microelectronics during the third quarter valued at $80,000. Wealth Alliance LLC bought a new stake in United Microelectronics in the 2nd quarter valued at $77,000. Finally, MGO One Seven LLC bought a new position in shares of United Microelectronics during the 3rd quarter valued at about $77,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.