United Microelectronics (NYSE:UMC) Cut to Hold at Wall Street Zen

United Microelectronics (NYSE:UMC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

UMC has been the subject of several other research reports. BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Trading Down 1.9%

NYSE UMC traded down $0.47 on Friday, hitting $24.39. 6,711,000 shares of the company were exchanged, compared to its average volume of 17,012,104. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. United Microelectronics has a twelve month low of $6.56 and a twelve month high of $28.96. The firm has a market capitalization of $61.42 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.58. The company’s 50 day moving average price is $21.22 and its 200-day moving average price is $13.77.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. Analysts predict that United Microelectronics will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

A number of large investors have recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new stake in shares of United Microelectronics in the second quarter worth approximately $399,000. Valeo Financial Advisors LLC purchased a new position in United Microelectronics during the second quarter valued at approximately $329,000. Strategic Investment Solutions Inc. IL acquired a new position in United Microelectronics in the 2nd quarter valued at approximately $76,000. FNY Investment Advisers LLC acquired a new position in United Microelectronics in the 2nd quarter valued at approximately $544,000. Finally, Dynamic Advisor Solutions LLC increased its stake in United Microelectronics by 7.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company’s stock valued at $351,000 after buying an additional 889 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

About United Microelectronics

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.