United Microelectronics Co. (NYSE:UMC) Receives Consensus Rating of “Hold” from Analysts

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

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

United Microelectronics Stock Down 3.8 %

NYSE UMC opened at $6.16 on Monday. The stock has a market cap of $15.44 billion, a PE ratio of 9.48, a P/E/G ratio of 3.09 and a beta of 1.17. The business has a 50 day moving average price of $6.70 and a two-hundred day moving average price of $7.70. United Microelectronics has a fifty-two week low of $6.14 and a fifty-two week high of $9.00. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

Institutional Trading of United Microelectronics

Several institutional investors and hedge funds have recently bought and sold shares of UMC. Assetmark Inc. bought a new position in United Microelectronics in the third quarter worth about $37,000. GAMMA Investing LLC raised its position in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 3,242 shares during the period. Viking Fund Management LLC bought a new stake in shares of United Microelectronics in the 3rd quarter worth approximately $84,000. MML Investors Services LLC acquired a new position in United Microelectronics during the 3rd quarter valued at approximately $86,000. Finally, Synovus Financial Corp acquired a new stake in United Microelectronics in the third quarter worth $89,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.