United Microelectronics Corporation (NYSE:UMC) Given Consensus Rating of “Reduce” by Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have been given an average rating of “Reduce” by the six analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.60.

A number of research analysts recently issued reports on UMC shares. Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. BNP Paribas Exane raised shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in UMC. Smartleaf Asset Management LLC acquired a new position in shares of United Microelectronics during the second quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United Microelectronics by 313.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 3,234 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in shares of United Microelectronics in the 4th quarter valued at $32,000. Kestra Advisory Services LLC bought a new position in United Microelectronics during the fourth quarter worth about $52,000. Finally, Arax Advisory Partners boosted its holdings in United Microelectronics by 583.7% during the fourth quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock worth $68,000 after buying an additional 7,390 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Price Performance

NYSE UMC traded down $0.05 during trading hours on Friday, reaching $8.98. 681,096 shares of the company’s stock were exchanged, compared to its average volume of 10,505,814. The firm has a fifty day moving average of $10.06 and a 200-day moving average of $8.46. United Microelectronics has a one year low of $5.71 and a one year high of $12.68. The stock has a market cap of $22.55 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 4.95 and a beta of 1.08. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, equities research analysts predict that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

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.