United Microelectronics (NYSE:UMC) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

United Microelectronics Corporation (NYSE:UMC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.83 and traded as high as $10.44. United Microelectronics shares last traded at $10.2750, with a volume of 9,373,398 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. BNP Paribas Exane raised United Microelectronics to a “strong-buy” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Bank of America cut United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, United Microelectronics has an average rating of “Hold” and a consensus price target of $8.60.

United Microelectronics Stock Down 0.2%

The company has a market capitalization of $25.81 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 5.47 and a beta of 1.10. The business has a fifty day simple moving average of $9.06 and a two-hundred day simple moving average of $7.83. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.15.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company earned $0.10 EPS. United Microelectronics’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that United Microelectronics Corporation will post 0.51 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Hedge funds have recently made changes to their positions in the company. Rafferty Asset Management LLC boosted its position in United Microelectronics by 50.7% in the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after buying an additional 2,826,486 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of United Microelectronics by 4.9% in the 3rd quarter. Bank of America Corp DE now owns 7,388,868 shares of the semiconductor company’s stock worth $56,008,000 after acquiring an additional 344,416 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock worth $40,438,000 after acquiring an additional 537,777 shares in the last quarter. Two Sigma Investments LP grew its position in United Microelectronics by 832.5% during the 3rd quarter. Two Sigma Investments LP now owns 3,530,564 shares of the semiconductor company’s stock worth $26,762,000 after acquiring an additional 3,151,936 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in United Microelectronics during the 2nd quarter valued at $24,024,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.