United Microelectronics (NYSE:UMC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other analysts have also commented on the company. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. Morgan Stanley cut 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 research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Performance

United Microelectronics stock opened at $7.06 on Friday. The stock has a 50-day simple moving average of $8.20 and a 200 day simple moving average of $8.26. The company has a quick ratio of 1.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.13. United Microelectronics has a 12-month low of $6.78 and a 12-month high of $9.00. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 3.76 and a beta of 1.20.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds have recently added to or reduced their stakes in UMC. Vanguard Group Inc. increased its position in United Microelectronics by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock worth $134,250,000 after buying an additional 434,018 shares during the period. Acadian Asset Management LLC increased its position in shares of United Microelectronics by 1,105.0% in the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock worth $1,659,000 after purchasing an additional 188,133 shares during the period. Blue Trust Inc. increased its position in shares of United Microelectronics by 136.1% in the third quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock worth $1,592,000 after purchasing an additional 104,797 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of United Microelectronics by 35.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 9,071 shares during the period. Finally, Diversified Trust Co bought a new position in shares of United Microelectronics in the second quarter worth $113,000. Institutional investors and hedge funds 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.