United Microelectronics (NYSE:UMC) Reaches New 12-Month Low – What’s Next?

United Microelectronics Co. (NYSE:UMC) hit a new 52-week low on Thursday . The company traded as low as $6.74 and last traded at $6.80, with a volume of 603673 shares. The stock had previously closed at $6.80.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report 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 on the stock. in a research report on Thursday, October 17th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Up 1.2 %

The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 3.38 and a beta of 1.20. The firm’s fifty day moving average price is $7.76 and its two-hundred day moving average price is $8.19. 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 Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UMC. Sequoia Financial Advisors LLC increased its holdings in shares of United Microelectronics by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 102,206 shares of the semiconductor company’s stock valued at $895,000 after acquiring an additional 1,333 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of United Microelectronics by 1.5% in the 3rd quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company’s stock worth $760,000 after purchasing an additional 1,360 shares in the last quarter. Commonwealth Equity Services LLC grew its position in 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 purchasing an additional 1,756 shares during the period. Hennessy Advisors Inc. increased its stake in United Microelectronics by 13.3% during the 2nd 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 in the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in United Microelectronics by 3.3% during the second quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company’s stock worth $505,000 after buying an additional 1,865 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

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.