United Microelectronics (NYSE:UMC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a research note released on Sunday.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Down 1.5 %

UMC stock opened at $6.78 on Friday. The firm’s fifty day simple moving average is $7.90 and its 200-day simple moving average is $8.22. The company has a market capitalization of $16.99 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.37. United Microelectronics has a 12 month low of $6.78 and a 12 month high of $9.00.

Institutional Investors Weigh In On United Microelectronics

Large investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its position in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after acquiring an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP lifted its holdings in United Microelectronics by 12.2% in the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after purchasing an additional 474,004 shares in the last quarter. State Street Corp lifted its holdings in United Microelectronics by 1.5% in the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock valued at $30,831,000 after purchasing an additional 53,105 shares in the last quarter. Barclays PLC boosted its stake in United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after purchasing an additional 240,380 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after buying an additional 970,600 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

About United Microelectronics

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.