United Microelectronics Co. (NYSE:UMC) Receives $7.40 Consensus Price Target from Brokerages

Shares of United Microelectronics Co. (NYSE:UMC) have earned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.40.

UMC has been the topic of several analyst reports. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective on the stock. in a report on Thursday, October 17th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th.

United Microelectronics Stock Down 0.3 %

UMC opened at $6.85 on Friday. The company has a market cap of $17.17 billion, a P/E ratio of 10.54, a P/E/G ratio of 3.32 and a beta of 1.20. The business’s 50-day moving average price is $7.66 and its 200-day moving average price is $8.16. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics has a 12 month low of $6.71 and a 12 month high of $9.00.

Institutional Trading of United Microelectronics

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in United Microelectronics by 136.1% during the 3rd quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock valued at $1,592,000 after acquiring an additional 104,797 shares in the last quarter. Diversified Trust Co bought a new stake in United Microelectronics during the 2nd quarter valued at approximately $113,000. Genesis Investment Management LLP boosted its position in United Microelectronics by 12.2% during the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after acquiring an additional 474,004 shares in the last quarter. Creative Planning boosted its position in United Microelectronics by 26.5% during the 2nd quarter. Creative Planning now owns 539,883 shares of the semiconductor company’s stock valued at $4,729,000 after acquiring an additional 113,130 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in United Microelectronics by 6,339.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company’s stock valued at $1,160,000 after acquiring an additional 135,668 shares in the last quarter. 5.05% of the stock is 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.