United Microelectronics (NYSE:UMC) Shares Gap Up – Here’s What Happened

United Microelectronics Co. (NYSE:UMC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.78, but opened at $5.92. United Microelectronics shares last traded at $5.99, with a volume of 5,562,774 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on UMC. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Citigroup lowered United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research report on Thursday, October 17th. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Performance

The firm has a 50 day moving average of $6.41 and a 200-day moving average of $7.44. The stock has a market capitalization of $15.10 billion, a PE ratio of 10.39, a P/E/G ratio of 3.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.30 earnings per share. Research analysts forecast that United Microelectronics Co. will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On United Microelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Genesis Investment Management LLP raised its stake in shares of United Microelectronics by 12.2% during the 3rd 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 in the last quarter. State Street Corp raised its stake in shares of United Microelectronics by 1.5% during the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after purchasing an additional 53,105 shares in the last quarter. Barclays PLC raised its stake in shares of 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 in the last quarter. Two Sigma Advisers LP raised its stake in shares of United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 970,600 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of United Microelectronics by 16.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,186,187 shares of the semiconductor company’s stock worth $9,988,000 after purchasing an additional 168,399 shares in the last quarter. 5.05% of the stock is 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.