United Microelectronics Corporation (NYSE:UMC) Stock Has Average Target Price of $8.60 According to Analysts

United Microelectronics Corporation (NYSE:UMC) has been given an average rating of “Reduce” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.60.

Several equities research analysts recently issued reports on UMC shares. Weiss Ratings raised United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Zacks Research downgraded shares of United Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Arete Research raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Monday, August 10th. Finally, Wall Street Zen raised United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UMC. Dimensional Fund Advisors LP increased its holdings in shares of United Microelectronics by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company’s stock valued at $25,591,000 after acquiring an additional 333,011 shares during the last quarter. Nykredit A S bought a new position in shares of United Microelectronics in the second quarter valued at approximately $9,525,000. Matthews International Capital Management LLC acquired a new stake in shares of United Microelectronics in the first quarter worth $8,779,000. Moran Wealth Management LLC boosted its holdings in shares of United Microelectronics by 14.9% during the 1st quarter. Moran Wealth Management LLC now owns 910,416 shares of the semiconductor company’s stock worth $8,176,000 after buying an additional 118,049 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of United Microelectronics by 17.9% during the 1st quarter. Quantinno Capital Management LP now owns 710,604 shares of the semiconductor company’s stock worth $6,381,000 after buying an additional 108,050 shares during the period. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Trading Up 0.1%

NYSE:UMC opened at $26.29 on Monday. The stock has a fifty day simple moving average of $20.96 and a 200 day simple moving average of $18.67. The firm has a market capitalization of $66.20 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 0.62 and a beta of 1.60. United Microelectronics has a 1-year low of $6.97 and a 1-year high of $28.96. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.10.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. The business had revenue of $2.16 billion for the quarter. United Microelectronics had a net margin of 33.18% and a return on equity of 21.00%. Sell-side analysts forecast that United Microelectronics will post 1.23 earnings per share for the current year.

About United Microelectronics

United Microelectronics Corp. (NYSE: UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by its customers rather than marketing semiconductor products under its own consumer brand.

The company provides wafer fabrication services across a range of established and specialty semiconductor processes. Its offerings support applications including communications, automotive electronics, industrial systems, consumer devices, display products and other embedded technologies.