United Microelectronics Co. (NYSE:UMC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $6.15 and last traded at $6.19, with a volume of 1307282 shares traded. The stock had previously closed at $6.40.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered United Microelectronics from an "overweight" rating to a "neutral" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group downgraded shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. StockNews.com cut shares of United Microelectronics from a "buy" rating to a "hold" rating in a research report on Sunday, November 17th. Finally, Morgan Stanley cut United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $7.40.
Read Our Latest Report on UMC
United Microelectronics Trading Down 3.8 %
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 firm has a market capitalization of $15.44 billion, a P/E ratio of 9.48, a P/E/G ratio of 3.09 and a beta of 1.17. The firm has a 50-day moving average of $6.70 and a two-hundred day moving average of $7.71.
Institutional Investors Weigh In On United Microelectronics
Several hedge funds have recently modified their holdings of UMC. Assetmark Inc. bought a new stake in shares of United Microelectronics in the third quarter worth $37,000. GAMMA Investing LLC grew its position in shares of 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 buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of United Microelectronics in the third quarter valued at about $84,000. MML Investors Services LLC bought a new position in shares of United Microelectronics during the third quarter worth about $86,000. Finally, Synovus Financial Corp acquired a new position in shares of United Microelectronics in the third quarter worth approximately $89,000. Institutional investors and hedge funds own 5.05% of the company's stock.
About United Microelectronics
(
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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.
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