United Microelectronics (NYSE:UMC) Downgraded by Wall Street Zen to “Hold”

by · The Cerbat Gem

Wall Street Zen downgraded shares of United Microelectronics (NYSE:UMC – Free Report) from a buy rating to a hold rating in a research report released on Sunday morning.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Read Our Latest Stock Report on United Microelectronics

United Microelectronics Stock Performance

Shares of UMC stock traded up $0.03 during trading on Friday, reaching $7.44. 7,133,838 shares of the company’s stock were exchanged, compared to its average volume of 10,349,570. United Microelectronics has a twelve month low of $5.61 and a twelve month high of $8.33. The firm’s fifty day moving average price is $7.28 and its 200-day moving average price is $7.37. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18.69 billion, a PE ratio of 14.59, a PEG ratio of 4.12 and a beta of 1.29.

United Microelectronics (NYSE:UMC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a return on equity of 11.36% and a net margin of 17.08%.The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $58.25 billion. During the same quarter last year, the firm posted $0.18 EPS. As a group, sell-side analysts anticipate that United Microelectronics will post 0.51 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

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

United Microelectronics Company Profile

(Get Free Report)

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.

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