Wedbush Equities Analysts Lift Earnings Estimates for UMC

United Microelectronics Co. (NYSE:UMC - Free Report) - Research analysts at Wedbush upped their FY2024 earnings per share estimates for United Microelectronics in a note issued to investors on Wednesday, October 30th. Wedbush analyst M. Bryson now forecasts that the semiconductor company will post earnings of $0.79 per share for the year, up from their previous estimate of $0.62. The consensus estimate for United Microelectronics' current full-year earnings is $0.63 per share. Wedbush also issued estimates for United Microelectronics' Q3 2025 earnings at $0.26 EPS.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of United Microelectronics from a "buy" rating to a "hold" rating in a research report on Friday. Morgan Stanley cut shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered United Microelectronics from an "overweight" rating to a "neutral" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 target price on the stock. in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Price Performance

NYSE UMC traded up $0.01 during trading hours on Monday, hitting $7.07. The company had a trading volume of 15,184,125 shares, compared to its average volume of 10,203,938. The firm has a 50 day simple moving average of $8.20 and a 200 day simple moving average of $8.26. United Microelectronics has a 52 week low of $6.78 and a 52 week high of $9.00. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UMC. Marshall Wace LLP raised its position in United Microelectronics by 682.1% during the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company's stock valued at $45,974,000 after purchasing an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP boosted its stake in United Microelectronics by 81.7% in the second quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company's stock worth $33,983,000 after buying an additional 1,744,721 shares in the last quarter. Acadian Asset Management LLC grew its position in United Microelectronics by 114.4% during the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company's stock valued at $3,849,000 after acquiring an additional 234,606 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of United Microelectronics by 6,339.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company's stock worth $1,160,000 after acquiring an additional 135,668 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of United Microelectronics by 22.6% in the 3rd quarter. Creative Planning now owns 661,802 shares of the semiconductor company's stock worth $5,572,000 after acquiring an additional 121,919 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other 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.