United Microelectronics Co. (NYSE:UMC - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $7.40.
UMC has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. Morgan Stanley lowered shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. The Goldman Sachs Group cut shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. Finally, StockNews.com cut United Microelectronics from a "buy" rating to a "hold" rating in a research note on Sunday, November 17th.
Check Out Our Latest Research Report on United Microelectronics
United Microelectronics Stock Down 0.9 %
UMC stock traded down $0.06 during trading on Thursday, reaching $6.52. The stock had a trading volume of 10,388,627 shares, compared to its average volume of 10,368,166. The firm has a fifty day moving average price of $7.05 and a 200 day moving average price of $7.95. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $16.34 billion, a P/E ratio of 10.03, a PEG ratio of 3.09 and a beta of 1.17. United Microelectronics has a 1-year low of $6.31 and a 1-year high of $9.00.
Institutional Investors Weigh In On United Microelectronics
A number of hedge funds have recently added to or reduced their stakes in the stock. Ignite Planners LLC lifted its position in United Microelectronics by 1.5% in the 3rd quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company's stock valued at $760,000 after purchasing an additional 1,360 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in United Microelectronics by 1.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 103,907 shares of the semiconductor company's stock worth $875,000 after acquiring an additional 1,701 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of United Microelectronics by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company's stock valued at $626,000 after purchasing an additional 1,756 shares during the period. Hennessy Advisors Inc. raised its stake in shares of United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company's stock valued at $137,000 after purchasing an additional 1,836 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in United Microelectronics by 3.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company's stock valued at $505,000 after buying an additional 1,865 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.
About United Microelectronics
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Get Free ReportUnited 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.
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