United Microelectronics (NYSE:UMC) Shares Gap Down – Time to Sell?

United Microelectronics Corporation (NYSE:UMC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $22.46, but opened at $21.11. United Microelectronics shares last traded at $20.83, with a volume of 3,072,975 shares changing hands.

Analysts Set New Price Targets

UMC has been the topic of a number of research reports. Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. Finally, BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average price target of $8.60.

United Microelectronics Trading Down 6.4%

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. The firm’s fifty day moving average is $13.35 and its two-hundred day moving average is $10.53. The firm has a market capitalization of $52.92 billion, a PE ratio of 32.34, a PEG ratio of 2.70 and a beta of 1.61.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, equities analysts predict that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

A number of hedge funds have recently bought and sold shares of UMC. Smartleaf Asset Management LLC purchased a new position in United Microelectronics in the second quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 3,234 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of United Microelectronics during the 4th quarter worth $32,000. Kestra Advisory Services LLC purchased a new position in shares of United Microelectronics in the 4th quarter worth about $52,000. Finally, Arax Advisory Partners boosted its holdings in shares of United Microelectronics by 583.7% in the 4th 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 currently owned by 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.