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

StockNews.com cut shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a research report sent to investors on Sunday.

A number of other research firms have also weighed in on UMC. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a 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. Finally, Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Performance

Shares of UMC stock opened at $6.98 on Friday. 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 firm has a fifty day simple moving average of $7.87 and a two-hundred day simple moving average of $8.21. United Microelectronics has a 12 month low of $6.78 and a 12 month high of $9.00. The firm has a market capitalization of $17.48 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20.

Institutional Trading of United Microelectronics

A number of hedge funds have recently bought and sold shares of the business. Chiron Investment Management LLC purchased a new stake in shares of United Microelectronics during the 3rd quarter valued at $755,000. Barclays PLC grew its position in United Microelectronics by 8.1% during the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after buying an additional 240,380 shares during the period. Groupama Asset Managment purchased a new stake in United Microelectronics during the third quarter worth about $238,000. MML Investors Services LLC bought a new stake in United Microelectronics in the third quarter worth about $86,000. Finally, XTX Topco Ltd purchased a new position in United Microelectronics in the third quarter valued at about $1,915,000. 5.05% of the stock is currently owned by 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.