United Microelectronics (NYSE:UMC) Rating Increased to Neutral at BNP Paribas Exane

United Microelectronics (NYSE:UMC) was upgraded by BNP Paribas Exane from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a $8.60 target price on the semiconductor company’s stock. BNP Paribas Exane’s price target suggests a potential downside of 0.17% from the company’s current price.

A number of other research analysts have also weighed in on UMC. Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, United Microelectronics has an average rating of “Reduce” and an average price target of $8.60.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $8.62 on Tuesday. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 4.71 and a beta of 1.08. The firm has a fifty day moving average price of $10.04 and a 200 day moving average price of $8.51. United Microelectronics has a fifty-two week low of $5.71 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.45%. United Microelectronics’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts expect that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Summit Global Investments purchased a new position in United Microelectronics during the third quarter worth $1,097,000. North of South Capital LLP purchased a new stake in shares of United Microelectronics in the third quarter valued at $948,000. US Bancorp DE raised its stake in shares of United Microelectronics by 102.7% in the third quarter. US Bancorp DE now owns 541,044 shares of the semiconductor company’s stock valued at $4,101,000 after acquiring an additional 274,157 shares during the period. Quantbot Technologies LP lifted its holdings in shares of United Microelectronics by 2,855.8% in the 3rd quarter. Quantbot Technologies LP now owns 235,604 shares of the semiconductor company’s stock worth $1,786,000 after acquiring an additional 227,633 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new position in shares of United Microelectronics during the 2nd quarter worth about $24,024,000. Institutional investors own 5.05% of the company’s stock.

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.