United Microelectronics (NYSE:UMC) Downgraded by StockNews.com to "Hold"

StockNews.com lowered shares of United Microelectronics (NYSE:UMC - Free Report) from a buy rating to a hold rating in a research note published on Sunday.

A number of other brokerages have also issued reports on UMC. JPMorgan Chase & Co. lowered shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley downgraded United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. Finally, The Goldman Sachs Group lowered 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Down 1.5 %

Shares of NYSE:UMC traded down $0.10 during midday trading on Friday, reaching $6.78. The company had a trading volume of 14,465,028 shares, compared to its average volume of 13,408,060. The stock has a market capitalization of $16.99 billion, a P/E ratio of 10.43, a PEG ratio of 3.28 and a beta of 1.20. The stock's fifty day moving average price is $7.90 and its 200-day moving average price is $8.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.37. United Microelectronics has a one year low of $6.78 and a one year high of $9.00.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently bought and sold shares of the stock. Assetmark Inc. acquired a new position in shares of United Microelectronics during the 3rd quarter valued at $37,000. GAMMA Investing LLC grew its holdings in United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 3,242 shares during the period. Viking Fund Management LLC bought a new stake in United Microelectronics in the third quarter worth about $84,000. MML Investors Services LLC acquired a new stake in United Microelectronics in the 3rd quarter valued at about $86,000. Finally, Aprio Wealth Management LLC bought a new position in shares of United Microelectronics during the 2nd quarter valued at about $95,000. Institutional investors and hedge funds own 5.05% of the company's stock.

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.