Morgan Stanley upgraded shares of United Microelectronics (NYSE:UMC) from an underweight rating to an overweight rating in a report issued on Tuesday morning, Briefing.com Automated Import reports.
Several other research analysts also recently issued reports on the stock. Citigroup upgraded shares of United Microelectronics from a sell rating to a neutral rating in a research report on Monday, November 25th. Goldman Sachs Group raised shares of United Microelectronics from a sell rating to a neutral rating in a research note on Thursday, October 31st. Finally, ValuEngine lowered shares of United Microelectronics from a hold rating to a sell rating in a research report on Saturday, October 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. United Microelectronics currently has a consensus rating of Hold.
NYSE:UMC traded down $0.07 during mid-day trading on Tuesday, hitting $2.64. The company’s stock had a trading volume of 40,447 shares, compared to its average volume of 591,085. United Microelectronics has a fifty-two week low of $1.69 and a fifty-two week high of $2.73. The company has a current ratio of 2.32, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 40.67 and a beta of 0.94. The stock has a fifty day moving average of $2.36 and a 200-day moving average of $2.17.
Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of United Microelectronics by 20.8% during the third quarter. Parallel Advisors LLC now owns 27,909 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 4,802 shares during the period. Ballentine Partners LLC raised its holdings in United Microelectronics by 17.0% during the 2nd quarter. Ballentine Partners LLC now owns 33,171 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 4,819 shares during the last quarter. Morgan Stanley raised its holdings in United Microelectronics by 0.9% during the 2nd quarter. Morgan Stanley now owns 653,060 shares of the semiconductor company’s stock worth $1,443,000 after purchasing an additional 5,848 shares during the last quarter. Citadel Advisors LLC lifted its position in United Microelectronics by 3.6% during the 2nd quarter. Citadel Advisors LLC now owns 175,717 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 6,084 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in United Microelectronics by 4.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 162,859 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 6,555 shares during the period. Hedge funds and other institutional investors own 5.29% of the company’s stock.
United Microelectronics Company Profile
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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