United Microelectronics (NYSE:UMC) Shares Down 3% – Should You Sell?

United Microelectronics Co. (NYSE:UMC)’s share price dropped 3% during trading on Friday . The company traded as low as $7.75 and last traded at $7.76. Approximately 1,756,010 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 9,941,563 shares. The stock had previously closed at $8.00.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research note on Thursday.

United Microelectronics Trading Down 3.4 %

The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 4.35 and a beta of 1.18. The company has a fifty day moving average of $8.46 and a 200-day moving average of $8.30. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of United Microelectronics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after purchasing an additional 434,018 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of United Microelectronics by 3.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 76,057 shares of the semiconductor company’s stock valued at $643,000 after buying an additional 2,754 shares during the period. Ballentine Partners LLC increased its holdings in shares of United Microelectronics by 20.8% during the 1st quarter. Ballentine Partners LLC now owns 113,245 shares of the semiconductor company’s stock worth $916,000 after buying an additional 19,479 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of United Microelectronics by 24.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 201,630 shares of the semiconductor company’s stock valued at $1,631,000 after buying an additional 39,698 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its holdings in United Microelectronics by 5.4% in the first quarter. SeaCrest Wealth Management LLC now owns 60,397 shares of the semiconductor company’s stock valued at $489,000 after acquiring an additional 3,071 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other 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.