United Microelectronics Co. (NYSE:UMC) Receives Consensus Rating of “Hold” from Brokerages

Shares of United Microelectronics Co. (NYSE:UMC) have been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.40.

Several research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research note on Thursday, October 17th.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently bought and sold shares of UMC. Victory Capital Management Inc. boosted its stake in shares of United Microelectronics by 96.0% during the third quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after purchasing an additional 73,202 shares during the period. Blue Trust Inc. increased its position in shares of United Microelectronics by 136.1% in the third quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock valued at $1,592,000 after acquiring an additional 104,797 shares during the period. Diversified Trust Co bought a new position in shares of United Microelectronics during the second quarter valued at about $113,000. Genesis Investment Management LLP boosted its holdings in shares of United Microelectronics by 12.2% during the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after purchasing an additional 474,004 shares during the period. Finally, Creative Planning grew its stake in shares of United Microelectronics by 26.5% in the second quarter. Creative Planning now owns 539,883 shares of the semiconductor company’s stock worth $4,729,000 after purchasing an additional 113,130 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Price Performance

UMC stock opened at $6.75 on Friday. The firm has a 50 day moving average of $7.56 and a 200-day moving average of $8.13. The firm has a market capitalization of $16.92 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 3.24 and a beta of 1.20. United Microelectronics has a 12 month low of $6.63 and a 12 month high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

United Microelectronics Company Profile

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.