United Microelectronics Co. (NYSE:UMC) Receives Average Recommendation of "Hold" from Analysts

Shares of United Microelectronics Co. (NYSE:UMC - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.40.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. cut United Microelectronics from an "overweight" rating to a "neutral" rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of United Microelectronics from a "buy" rating to a "hold" rating in a report on Sunday, November 17th. The Goldman Sachs Group lowered shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price target on the stock. 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 Performance

UMC traded up $0.08 during midday trading on Friday, reaching $6.85. The company had a trading volume of 5,025,451 shares, compared to its average volume of 13,928,435. The business has a 50-day moving average price of $7.73 and a two-hundred day moving average price of $8.18. United Microelectronics has a 12-month low of $6.71 and a 12-month high of $9.00. The stock has a market cap of $17.17 billion, a PE ratio of 10.54, a P/E/G ratio of 3.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

Hedge Funds Weigh In On United Microelectronics

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company's stock worth $45,974,000 after acquiring an additional 4,577,177 shares during the period. Genesis Investment Management LLP lifted its holdings in United Microelectronics by 12.2% in the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company's stock worth $36,655,000 after purchasing an additional 474,004 shares in the last quarter. State Street Corp boosted its stake in United Microelectronics by 1.5% in the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company's stock worth $30,831,000 after purchasing an additional 53,105 shares during the period. Barclays PLC grew its holdings in United Microelectronics by 8.1% during the 3rd 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 in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company's stock valued at $10,774,000 after buying an additional 970,600 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

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.