United Microelectronics (NYSE:UMC) Announces Quarterly Earnings Results

United Microelectronics (NYSE:UMC) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03), Zacks reports. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.30 earnings per share.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $5.73 on Thursday. The company has a 50 day moving average of $6.59 and a 200 day moving average of $7.59. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The stock has a market cap of $14.35 billion, a P/E ratio of 9.87, a P/E/G ratio of 3.31 and a beta of 1.17. United Microelectronics has a 12 month low of $5.70 and a 12 month high of $9.00.

Analyst Upgrades and Downgrades

UMC has been the topic of several research reports. 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. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. StockNews.com cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Finally, Citigroup lowered United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.40.

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.