United Microelectronics Co. (NYSE:UMC) Receives Average Recommendation of “Hold” from Analysts

Shares of United Microelectronics Co. (NYSE:UMC) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.40.

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

United Microelectronics Price Performance

United Microelectronics stock opened at $6.58 on Thursday. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The firm has a 50-day moving average of $7.08 and a two-hundred day moving average of $7.96. United Microelectronics has a 1 year low of $6.31 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

Institutional Investors Weigh In On United Microelectronics

A number of large investors have recently bought and sold shares of UMC. Hennessy Advisors Inc. lifted its position in United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 1,836 shares during the period. Signaturefd LLC lifted its holdings in shares of United Microelectronics by 1.4% in the 2nd quarter. Signaturefd LLC now owns 229,462 shares of the semiconductor company’s stock valued at $2,010,000 after buying an additional 3,165 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of United Microelectronics by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock valued at $626,000 after buying an additional 1,756 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in shares of United Microelectronics by 18.7% in the second quarter. Mizuho Securities Co. Ltd. now owns 82,335 shares of the semiconductor company’s stock worth $721,000 after buying an additional 13,000 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in United Microelectronics during the second quarter worth about $103,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.