United Microelectronics (NYSE:UMC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of United Microelectronics (NYSE:UMC) from a hold rating to a buy rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Microelectronics currently has a consensus rating of “Hold”.

United Microelectronics Stock Performance

NYSE UMC opened at $7.84 on Friday. United Microelectronics has a 1-year low of $5.61 and a 1-year high of $8.33. The company has a 50 day moving average of $7.22 and a 200-day moving average of $7.35. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 4.12 and a beta of 1.24.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $58.25 billion. United Microelectronics had a return on equity of 11.36% and a net margin of 17.08%.During the same period in the prior year, the company earned $0.18 EPS. On average, equities analysts forecast that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently modified their holdings of UMC. Rafferty Asset Management LLC lifted its holdings in United Microelectronics by 50.7% in the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after buying an additional 2,826,486 shares during the period. Citigroup Inc. lifted its stake in shares of United Microelectronics by 3.4% in the 1st quarter. Citigroup Inc. now owns 6,030,617 shares of the semiconductor company’s stock valued at $43,119,000 after purchasing an additional 196,262 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock worth $40,438,000 after purchasing an additional 537,777 shares during the last quarter. Northern Trust Corp grew its stake in shares of United Microelectronics by 4.7% during the first quarter. Northern Trust Corp now owns 3,335,080 shares of the semiconductor company’s stock worth $23,846,000 after purchasing an additional 150,636 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new stake in United Microelectronics in the second quarter valued at about $24,024,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.