Analysts Set United Microelectronics Corporation (NYSE:UMC) Target Price at $8.60

Shares of United Microelectronics Corporation (NYSE:UMC) have earned an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $8.60.

A number of equities analysts recently issued reports on UMC shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. 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 United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a report on Wednesday, January 28th.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $10.33 on Thursday. The company has a 50 day moving average price of $9.01 and a 200 day moving average price of $7.81. The firm has a market capitalization of $25.94 billion, a P/E ratio of 19.12, a PEG ratio of 5.26 and a beta of 1.10. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.15. United Microelectronics has a 52 week low of $5.71 and a 52 week high of $12.68.

United Microelectronics (NYSE:UMC) last issued 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 business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.59%. United Microelectronics’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts expect that United Microelectronics will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new stake in United Microelectronics during the 2nd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Microelectronics by 313.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after buying an additional 3,234 shares during the last quarter. TD Private Client Wealth LLC acquired a new stake in United Microelectronics during the fourth quarter worth about $32,000. Allworth Financial LP grew its holdings in United Microelectronics by 20.5% during the fourth quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 1,498 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in United Microelectronics during the fourth quarter valued at approximately $75,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.