United Microelectronics Co. (NYSE:UMC) Receives $7.40 Average Price Target from Analysts

Shares of United Microelectronics Co. (NYSE:UMC) have been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $7.40.

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

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of United Microelectronics in the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its holdings in United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 3,242 shares during the period. Viking Fund Management LLC acquired a new position in United Microelectronics during the third quarter worth approximately $84,000. MML Investors Services LLC bought a new stake in United Microelectronics in the third quarter valued at approximately $86,000. Finally, Synovus Financial Corp acquired a new stake in shares of United Microelectronics in the third quarter valued at approximately $89,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $6.27 on Monday. The company has a fifty day moving average price of $6.62 and a 200 day moving average price of $7.63. The firm has a market cap of $15.72 billion, a PE ratio of 9.65, a PEG ratio of 3.00 and a beta of 1.17. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics has a 1-year low of $6.09 and a 1-year high of $9.00.

United Microelectronics Company Profile

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.