United Microelectronics Co. (NYSE:UMC - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $5.78, but opened at $5.92. United Microelectronics shares last traded at $5.99, with a volume of 5,562,774 shares.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on UMC. StockNews.com downgraded shares of United Microelectronics from a "buy" rating to a "hold" rating in a research note on Sunday, November 17th. Morgan Stanley lowered shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a research report on Monday, October 28th. The Goldman Sachs Group downgraded shares of United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 price target for the company. in a report on Thursday, October 17th. JPMorgan Chase & Co. downgraded United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. Finally, Citigroup cut United Microelectronics from a "buy" rating to a "sell" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.40.
Check Out Our Latest Report on United Microelectronics
United Microelectronics Stock Performance
The company's 50-day simple moving average is $6.36 and its 200-day simple moving average is $7.40. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.92 and a beta of 1.15. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.
United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company had revenue of $1.84 billion for 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. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that United Microelectronics Co. will post 0.51 EPS for the current year.
Hedge Funds Weigh In On United Microelectronics
A number of hedge funds and other institutional investors have recently made changes to their positions in UMC. Sequoia Financial Advisors LLC raised its holdings in United Microelectronics by 1.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 103,907 shares of the semiconductor company's stock worth $875,000 after purchasing an additional 1,701 shares during the last quarter. Aprio Wealth Management LLC lifted its holdings in United Microelectronics by 20.3% in the third quarter. Aprio Wealth Management LLC now owns 13,026 shares of the semiconductor company's stock valued at $110,000 after buying an additional 2,198 shares during the period. PDS Planning Inc boosted its position in United Microelectronics by 4.5% during the third quarter. PDS Planning Inc now owns 54,827 shares of the semiconductor company's stock valued at $462,000 after acquiring an additional 2,374 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in United Microelectronics by 3.5% during the 4th quarter. Banque Pictet & Cie SA now owns 74,509 shares of the semiconductor company's stock worth $484,000 after acquiring an additional 2,500 shares during the period. Finally, DGS Capital Management LLC raised its position in shares of United Microelectronics by 2.7% in the 3rd quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company's stock worth $878,000 after acquiring an additional 2,712 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.
United Microelectronics Company Profile
(
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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