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 report released on Monday morning.

A number of other brokerages also recently weighed in on UMC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Bank of America downgraded shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

United Microelectronics Stock Performance

UMC opened at $7.25 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $8.33. The firm has a market cap of $18.20 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. The business’s fifty day moving average is $7.35 and its 200-day moving average is $7.38.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.36%. During the same quarter in the prior year, the business posted $0.18 earnings per share. Sell-side analysts expect that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UMC. Envestnet Asset Management Inc. increased its holdings in United Microelectronics by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 94,094 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 11,122 shares in the last quarter. Xponance Inc. bought a new stake in shares of United Microelectronics during the first quarter worth about $125,000. Private Advisor Group LLC grew its holdings in shares of United Microelectronics by 29.0% during the first quarter. Private Advisor Group LLC now owns 18,284 shares of the semiconductor company’s stock worth $131,000 after purchasing an additional 4,110 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of United Microelectronics by 12.3% in the first quarter. Lindbrook Capital LLC now owns 28,053 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 3,073 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in United Microelectronics during the 1st quarter worth approximately $128,000. 5.05% of the stock is currently owned by institutional investors.

About United Microelectronics

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.