United Microelectronics (NYSE:UMC) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Friday, The Fly reports.

Other equities analysts have also recently issued reports about the company. HSBC cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. UBS Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $1.78 price target on the stock. in a report on Tuesday, November 6th. Nomura cut United Microelectronics from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. ValuEngine cut United Microelectronics from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, CLSA cut United Microelectronics from an “underperform” rating to a “sell” rating in a report on Monday, November 5th. Five research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. United Microelectronics currently has an average rating of “Hold” and a consensus price target of $2.19.

United Microelectronics stock opened at $1.81 on Friday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 11.71 and a beta of 0.90. United Microelectronics has a 52-week low of $1.64 and a 52-week high of $3.14. The company has a current ratio of 2.72, a quick ratio of 2.38 and a debt-to-equity ratio of 0.32.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Wednesday, October 24th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $39.39 billion for the quarter, compared to the consensus estimate of $39.72 billion. United Microelectronics had a return on equity of 4.94% and a net margin of 6.93%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis.

Several institutional investors have recently bought and sold shares of UMC. Henry James International Management Inc. acquired a new position in shares of United Microelectronics during the third quarter worth approximately $140,000. Mackenzie Financial Corp acquired a new position in shares of United Microelectronics during the third quarter worth approximately $149,000. Macquarie Group Ltd. raised its position in shares of United Microelectronics by 900.0% during the third quarter. Macquarie Group Ltd. now owns 100,000 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90,000 shares during the period. Credit Suisse AG raised its position in shares of United Microelectronics by 120.3% during the third quarter. Credit Suisse AG now owns 119,970 shares of the semiconductor company’s stock worth $309,000 after purchasing an additional 65,521 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of United Microelectronics by 61.5% during the second quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 53,347 shares during the period. Hedge funds and other institutional investors own 5.37% of the company’s stock.

About United Microelectronics

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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