United Microelectronics (NYSE:UMC) Reaches New 1-Year High – Here’s What Happened

United Microelectronics Corporation (NYSE:UMC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.15 and last traded at $20.95, with a volume of 3598576 shares changing hands. The stock had previously closed at $18.22.

Analyst Upgrades and Downgrades

UMC has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. BNP Paribas Exane upgraded United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 target price for the company in a report on Tuesday, March 31st. Finally, Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.60.

United Microelectronics Trading Up 17.2%

The company has a market capitalization of $53.78 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41. The business has a fifty day moving average price of $12.06 and a 200 day moving average price of $10.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, equities analysts expect that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC bought a new stake in shares of United Microelectronics during the second quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $32,000 after purchasing an additional 3,234 shares during the period. TD Private Client Wealth LLC bought a new stake in shares of United Microelectronics during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC bought a new stake in shares of United Microelectronics during the fourth quarter valued at approximately $52,000. Finally, Arax Advisory Partners increased its position in shares of United Microelectronics by 583.7% during the fourth quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 7,390 shares during the period. 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.