United Microelectronics (NYSE:UMC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

United Microelectronics Corporation (NYSE:UMC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.38 and traded as high as $9.31. United Microelectronics shares last traded at $9.2550, with a volume of 6,551,957 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on UMC. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $8.60.

United Microelectronics Stock Down 1.8%

The company has a market cap of $22.85 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 4.92 and a beta of 1.08. The business has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $8.39. The company has a quick ratio of 1.91, a current ratio of 2.34 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 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

A number of institutional investors and hedge funds have recently modified their holdings of UMC. AQR Capital Management LLC grew its stake in United Microelectronics by 873.8% in the 4th quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company’s stock valued at $74,389,000 after buying an additional 8,492,466 shares during the last quarter. Rafferty Asset Management LLC lifted its position in United Microelectronics by 50.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock worth $64,283,000 after acquiring an additional 2,826,486 shares during the last quarter. Bank of America Corp DE boosted its holdings in United Microelectronics by 4.9% during the third quarter. Bank of America Corp DE now owns 7,388,868 shares of the semiconductor company’s stock valued at $56,008,000 after acquiring an additional 344,416 shares during the period. Goldman Sachs Group Inc. boosted its holdings in United Microelectronics by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares during the period. Finally, Barclays PLC grew its position in shares of United Microelectronics by 35.2% in the fourth quarter. Barclays PLC now owns 5,511,784 shares of the semiconductor company’s stock valued at $43,323,000 after purchasing an additional 1,435,780 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.