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

United Microelectronics Co. (NYSE:UMC) has been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.40.

A number of analysts have commented on the company. 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. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th.

United Microelectronics Price Performance

Shares of UMC opened at $6.27 on Monday. United Microelectronics has a twelve month low of $6.09 and a twelve month high of $9.00. The company has a market capitalization of $15.72 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The firm has a 50 day moving average of $6.62 and a 200 day moving average of $7.62. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On United Microelectronics

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

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.