Citigroup upgraded shares of United Microelectronics (NYSE:UMC – Free Report) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat reports.
Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of United Microelectronics from a buy rating to a neutral rating and set a $8.90 price objective on the stock. in a report on Tuesday, January 16th. HSBC upgraded shares of United Microelectronics from a reduce rating to a hold rating in a research report on Thursday, January 25th.
Read Our Latest Stock Report on UMC
United Microelectronics Stock Performance
United Microelectronics (NYSE:UMC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.72 billion. Equities research analysts anticipate that United Microelectronics will post 0.61 earnings per share for the current year.
Institutional Trading of United Microelectronics
Several institutional investors have recently made changes to their positions in UMC. HB Wealth Management LLC acquired a new stake in shares of United Microelectronics during the 3rd quarter valued at about $82,000. Ballentine Partners LLC boosted its position in United Microelectronics by 9.2% in the third quarter. Ballentine Partners LLC now owns 76,473 shares of the semiconductor company’s stock valued at $540,000 after buying an additional 6,473 shares in the last quarter. PDS Planning Inc boosted its position in United Microelectronics by 5.2% in the third quarter. PDS Planning Inc now owns 52,768 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 2,593 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in United Microelectronics by 26.5% in the third quarter. Commonwealth Equity Services LLC now owns 76,151 shares of the semiconductor company’s stock valued at $538,000 after buying an additional 15,949 shares in the last quarter. Finally, SVB Wealth LLC boosted its position in United Microelectronics by 9.6% in the third quarter. SVB Wealth LLC now owns 63,048 shares of the semiconductor company’s stock valued at $445,000 after buying an additional 5,530 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.
About United Microelectronics
United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.
Featured Stories
- Five stocks we like better than United Microelectronics
- Consumer Discretionary Stocks Explained
- MarketBeat Week in Review – 4/22 – 4/26
- How to Invest in the Best Canadian Stocks
- 3 Stocks Leading the U.S. Agriculture Comeback
- Retail Stocks Investing, Explained
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.