Shares of United Microelectronics Co. (NYSE:UMC - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $6.63, but opened at $6.49. United Microelectronics shares last traded at $6.52, with a volume of 1,129,062 shares.
Analyst Ratings Changes
UMC has been the topic of a number of research reports. Morgan Stanley downgraded shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a report on Monday, October 28th. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. The Goldman Sachs Group downgraded United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 target price for the company. in a research report on Thursday, October 17th. Finally, StockNews.com lowered United Microelectronics from a "buy" rating to a "hold" rating in a report on Sunday, November 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.40.
Check Out Our Latest Stock Report on UMC
United Microelectronics Price Performance
The firm has a market cap of $16.01 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. The stock has a 50 day simple moving average of $6.76 and a two-hundred day simple moving average of $7.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in shares of United Microelectronics by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company's stock valued at $626,000 after buying an additional 1,756 shares during the period. Victory Capital Management Inc. lifted its stake in United Microelectronics by 25.6% during the second quarter. Victory Capital Management Inc. now owns 76,255 shares of the semiconductor company's stock worth $668,000 after purchasing an additional 15,539 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of United Microelectronics during the 2nd quarter worth approximately $180,000. Acadian Asset Management LLC lifted its position in shares of United Microelectronics by 114.4% during the 2nd quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company's stock worth $3,849,000 after buying an additional 234,606 shares during the last quarter. Finally, Caprock Group LLC grew its position in shares of United Microelectronics by 84.4% in the 2nd quarter. Caprock Group LLC now owns 126,204 shares of the semiconductor company's stock valued at $1,106,000 after buying an additional 57,762 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.
About United Microelectronics
(
Get Free Report)
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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