United Microelectronics (NYSE:UMC) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of United Microelectronics (NYSE:UMC) from an underperform rating to a neutral rating in a research report released on Tuesday morning, Marketbeat reports. BNP Paribas Exane currently has $8.60 target price on the semiconductor company’s stock.

UMC has been the subject of several other reports. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $8.60.

United Microelectronics Trading Down 3.4%

Shares of NYSE:UMC opened at $8.67 on Tuesday. The business’s 50-day moving average is $9.92 and its 200 day moving average is $8.53. United Microelectronics has a 1 year low of $5.71 and a 1 year high of $12.68. The firm has a market capitalization of $21.77 billion, a P/E ratio of 16.05, a P/E/G ratio of 4.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.34 and a quick ratio of 1.91.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UMC. Smartleaf Asset Management LLC acquired a new stake in shares of United Microelectronics during the second quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in United Microelectronics by 313.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after buying an additional 3,234 shares during the period. TD Private Client Wealth LLC acquired a new position in United Microelectronics in the 4th quarter worth approximately $32,000. Kestra Advisory Services LLC purchased a new position in United Microelectronics during the 4th quarter worth approximately $52,000. Finally, Arax Advisory Partners raised its position in United Microelectronics by 583.7% during the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock worth $68,000 after buying an additional 7,390 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.