Citigroup Downgrades United Microelectronics (NYSE:UMC) to Sell

Citigroup lowered shares of United Microelectronics (NYSE:UMC) from a buy rating to a sell rating in a research report released on Tuesday morning, Marketbeat.com reports.

UMC has been the subject of several other reports. 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 note on Thursday, October 17th. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Finally, JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Trading Down 4.0 %

Shares of UMC opened at $6.03 on Tuesday. United Microelectronics has a fifty-two week low of $5.88 and a fifty-two week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company’s fifty day moving average is $6.61 and its 200 day moving average is $7.60. The stock has a market capitalization of $15.10 billion, a PE ratio of 9.27, a P/E/G ratio of 3.06 and a beta of 1.17.

United Microelectronics (NYSE:UMC) last posted its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 14.35% and a net margin of 22.89%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $5.30 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that United Microelectronics will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

A number of large investors have recently made changes to their positions in the stock. Assetmark Inc. purchased a new stake in United Microelectronics in the 3rd quarter valued at about $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 3,242 shares in the last quarter. Viking Fund Management LLC purchased a new stake in shares of United Microelectronics in the third quarter valued at approximately $84,000. MML Investors Services LLC bought a new position in United Microelectronics in the third quarter worth approximately $86,000. Finally, Synovus Financial Corp purchased a new position in United Microelectronics during the 3rd quarter worth $89,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.