United Microelectronics Corporation (NYSE:UMC) Given Average Rating of “Hold” by Brokerages

Shares of United Microelectronics Corporation (NYSE:UMC) have received an average recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company.

A number of research analysts have recently issued reports on UMC shares. Bank of America lowered United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th.

United Microelectronics Stock Performance

Shares of UMC stock opened at $9.31 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.34 and a quick ratio of 1.92. United Microelectronics has a one year low of $5.61 and a one year high of $9.37. The business’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $7.44. The stock has a market capitalization of $23.39 billion, a PE ratio of 18.26, a PEG ratio of 5.04 and a beta of 1.08.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 EPS 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 return on equity of 11.18% and a net margin of 17.08%.During the same quarter last year, the firm posted $0.18 earnings per share. As a group, research analysts forecast that United Microelectronics will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On United Microelectronics

A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC bought a new position in United Microelectronics in the 2nd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of United Microelectronics by 313.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 3,234 shares in the last quarter. Wealth Alliance LLC bought a new position in shares of United Microelectronics in the second quarter worth $77,000. MGO One Seven LLC purchased a new position in shares of United Microelectronics in the third quarter valued at $77,000. Finally, Euro Pacific Asset Management LLC bought a new stake in shares of United Microelectronics during the 3rd quarter valued at $80,000. Institutional investors own 5.05% of the company’s stock.

About United Microelectronics

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.