United Microelectronics (NYSE:UMC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of United Microelectronics (NYSE:UMCFree Report) from a hold rating to a buy rating in a research report report published on Tuesday.

Separately, Citigroup raised United Microelectronics from a neutral rating to a buy rating in a report on Wednesday, April 24th.

Get Our Latest Stock Report on UMC

United Microelectronics Stock Performance

NYSE:UMC opened at $8.89 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 1.93 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $8.15 and a 200-day moving average of $8.04. United Microelectronics has a twelve month low of $6.71 and a twelve month high of $8.97. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 3.01 and a beta of 1.20.

United Microelectronics (NYSE:UMCGet Free Report) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. Analysts forecast that United Microelectronics will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds have recently made changes to their positions in UMC. Jennison Associates LLC purchased a new stake in shares of United Microelectronics in the fourth quarter valued at $5,671,000. Rhumbline Advisers lifted its stake in United Microelectronics by 16.5% in the 3rd quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock worth $6,277,000 after acquiring an additional 125,903 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in United Microelectronics by 8.7% in the 4th quarter. Rafferty Asset Management LLC now owns 4,435,239 shares of the semiconductor company’s stock worth $37,522,000 after acquiring an additional 355,186 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in United Microelectronics during the 4th quarter worth about $5,860,000. Finally, Nomura Holdings Inc. purchased a new position in United Microelectronics during the 4th quarter valued at about $5,301,000. Hedge funds and other institutional investors 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, Singapore, China, Hong Kong, Japan, 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.

See Also

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.