United Microelectronics (NYSE:UMC) Downgraded by The Goldman Sachs Group to Neutral

United Microelectronics (NYSE:UMC) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, FinViz reports.

United Microelectronics Price Performance

UMC traded up $0.21 during trading on Thursday, reaching $8.19. The stock had a trading volume of 6,513,414 shares, compared to its average volume of 9,936,050. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. United Microelectronics has a 1-year low of $6.96 and a 1-year high of $9.00. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 4.35 and a beta of 1.18. The stock has a 50 day moving average of $8.49 and a two-hundred day moving average of $8.30.

United Microelectronics (NYSE:UMC) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. As a group, equities analysts anticipate that United Microelectronics will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foster Victor Wealth Advisors LLC grew its holdings in shares of United Microelectronics by 14.3% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 41,697 shares of the semiconductor company’s stock worth $336,000 after purchasing an additional 5,228 shares in the last quarter. Creative Planning boosted its position in United Microelectronics by 22.6% during the third quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock valued at $5,572,000 after acquiring an additional 121,919 shares during the last quarter. Cherrydale Wealth Management LLC acquired a new position in United Microelectronics in the third quarter valued at approximately $104,000. Viking Fund Management LLC acquired a new position in shares of United Microelectronics during the third quarter worth approximately $84,000. Finally, Ritholtz Wealth Management raised its holdings in shares of United Microelectronics by 3.2% in the 3rd quarter. Ritholtz Wealth Management now owns 110,672 shares of the semiconductor company’s stock worth $932,000 after acquiring an additional 3,414 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

About United Microelectronics

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.