United Microelectronics (NYSE:UMC) Shares Gap Up – Time to Buy?

Shares of United Microelectronics Co. (NYSE:UMC) gapped up before the market opened on Tuesday . The stock had previously closed at $6.34, but opened at $6.48. United Microelectronics shares last traded at $6.53, with a volume of 1,376,362 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on UMC shares. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research note on Thursday, October 17th. 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, United Microelectronics presently has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Performance

The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The firm’s 50-day moving average price is $7.08 and its two-hundred day moving average price is $7.96.

Institutional Trading of United Microelectronics

Large investors have recently made changes to their positions in the business. Hennessy Advisors Inc. grew its stake in shares of United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 1,836 shares during the last quarter. Signaturefd LLC grew its holdings in United Microelectronics by 1.4% during the 2nd quarter. Signaturefd LLC now owns 229,462 shares of the semiconductor company’s stock worth $2,010,000 after acquiring an additional 3,165 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of United Microelectronics by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock worth $626,000 after purchasing an additional 1,756 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its holdings in United Microelectronics by 18.7% during the second quarter. Mizuho Securities Co. Ltd. now owns 82,335 shares of the semiconductor company’s stock worth $721,000 after buying an additional 13,000 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in shares of United Microelectronics in the 2nd quarter valued at about $103,000. Institutional investors own 5.05% of the company’s stock.

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.