United Microelectronics (NYSE:UMC) Sets New 52-Week Low - Here's What Happened

United Microelectronics Co. (NYSE:UMC - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as $5.63 and last traded at $5.69, with a volume of 23572098 shares trading hands. The stock had previously closed at $5.69.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. StockNews.com downgraded United Microelectronics from a "buy" rating to a "hold" rating in a research report on Sunday, November 17th. Morgan Stanley cut United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. The Goldman Sachs Group cut United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price objective on the stock. in a research report on Thursday, October 17th. Finally, Citigroup downgraded shares of United Microelectronics from a "buy" rating to a "sell" rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, United Microelectronics has an average rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Trading Down 0.9 %

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 stock has a market capitalization of $14.50 billion, a P/E ratio of 9.97, a P/E/G ratio of 3.89 and a beta of 1.17. The business has a 50-day moving average price of $6.43 and a two-hundred day moving average price of $7.47.

United Microelectronics (NYSE:UMC - Get Free Report) last released its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $5.30 earnings per share. United Microelectronics's quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

Large investors have recently bought and sold shares of the business. Assetmark Inc. bought a new position in shares of United Microelectronics in the third quarter worth about $37,000. GAMMA Investing LLC lifted its stake in United Microelectronics by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company's stock valued at $57,000 after purchasing an additional 3,242 shares during the last quarter. Savant Capital LLC acquired a new stake in United Microelectronics in the fourth quarter valued at approximately $66,000. Viking Fund Management LLC bought a new stake in shares of United Microelectronics during the third quarter worth $84,000. Finally, MML Investors Services LLC acquired a new position in shares of United Microelectronics during the third quarter worth $86,000. 5.05% of the stock is owned by institutional investors and hedge funds.

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.