United Microelectronics (NYSE:UMC) Stock Price Up 3.7% - What's Next?

Shares of United Microelectronics Co. (NYSE:UMC - Get Free Report) traded up 3.7% on Monday . The stock traded as high as $6.70 and last traded at $6.80. 948,037 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 11,737,681 shares. The stock had previously closed at $6.55.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Price Performance

The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 4.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The business's fifty day simple moving average is $6.42 and its 200 day simple moving average is $6.90.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $5.30 earnings per share. Research analysts predict that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

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Institutional Investors Weigh In On United Microelectronics

Several hedge funds have recently bought and sold shares of UMC. Vanguard Group Inc. boosted its holdings in United Microelectronics by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock valued at $103,501,000 after acquiring an additional 750,472 shares during the period. Millennium Management LLC grew its stake in shares of United Microelectronics by 3,091.8% during the fourth quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock valued at $92,998,000 after purchasing an additional 13,880,446 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of United Microelectronics by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock worth $47,379,000 after buying an additional 237,024 shares during the last quarter. State Street Corp increased its holdings in United Microelectronics by 1.5% in the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company's stock valued at $30,831,000 after purchasing an additional 53,105 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of United Microelectronics by 10.7% during the fourth quarter. Barclays PLC now owns 3,547,867 shares of the semiconductor company's stock worth $23,026,000 after purchasing an additional 341,937 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.