United Microelectronics (NYSE:UMC) Sets New 52-Week Low - Should You Sell?

United Microelectronics Co. (NYSE:UMC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $6.78 and last traded at $6.78, with a volume of 8136290 shares trading hands. The stock had previously closed at $6.88.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on UMC shares. Morgan Stanley cut shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. StockNews.com upgraded United Microelectronics from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price objective on the stock. in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, United Microelectronics presently has a consensus rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66. The business's 50 day moving average price is $7.93 and its 200 day moving average price is $8.22. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 3.35 and a beta of 1.20.

Institutional Trading of United Microelectronics

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in United Microelectronics by 1,105.0% in the 1st quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company's stock valued at $1,659,000 after purchasing an additional 188,133 shares during the last quarter. Blue Trust Inc. boosted its position in United Microelectronics by 136.1% during the third quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company's stock worth $1,592,000 after acquiring an additional 104,797 shares during the last quarter. Diversified Trust Co purchased a new stake in United Microelectronics during the 2nd quarter valued at about $113,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in United Microelectronics by 35.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company's stock valued at $283,000 after acquiring an additional 9,071 shares during the last quarter. Finally, Genesis Investment Management LLP boosted its holdings in shares of United Microelectronics by 12.2% during 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 during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

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