United Microelectronics (NYSE:UMC) Stock Breaks Below 200-Day Moving Average – Should You Sell?

United Microelectronics Corporation (NYSE:UMC) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $17.01 and traded as low as $16.27. United Microelectronics shares last traded at $16.66, with a volume of 24,244,001 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of United Microelectronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Zacks Research cut shares of United Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday. Arete Research raised United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Finally, HSBC upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating and decreased their price target for the stock from $37.42 to $33.76 in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, United Microelectronics presently has a consensus rating of “Reduce” and a consensus price target of $36.79.

United Microelectronics Stock Down 7.6%

The company has a quick ratio of 1.81, a current ratio of 3.27 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $21.63 and a two-hundred day simple moving average of $17.01. The company has a market capitalization of $41.94 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 0.47 and a beta of 1.60.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, October 28th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.33 billion. United Microelectronics had a return on equity of 20.12% and a net margin of 31.96%. Equities analysts expect that United Microelectronics Corporation will post 1.23 EPS for the current year.

Institutional Trading of United Microelectronics

A number of large investors have recently bought and sold shares of the stock. Ascent Group LLC lifted its holdings in shares of United Microelectronics by 91.4% during the third quarter. Ascent Group LLC now owns 31,583 shares of the semiconductor company’s stock valued at $773,000 after acquiring an additional 15,082 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at $225,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of United Microelectronics in the 3rd quarter worth about $3,757,000. Vise Technologies Inc. grew its holdings in shares of United Microelectronics by 16.0% in the 3rd quarter. Vise Technologies Inc. now owns 202,826 shares of the semiconductor company’s stock worth $4,967,000 after purchasing an additional 27,946 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of United Microelectronics during the 3rd quarter worth about $815,000. 5.05% of the stock is currently owned by institutional investors.

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 customers rather than marketing its own branded semiconductor products.

The company provides wafer fabrication services across a range of process technologies, with particular expertise in specialty applications such as display driver ICs, automotive semiconductors, connectivity products, image sensors, power management components and embedded memory.