StockNews.com Upgrades United Microelectronics (NYSE:UMC) to Buy

United Microelectronics (NYSE:UMC - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Saturday.

UMC has been the topic of several other reports. Morgan Stanley lowered shares of United Microelectronics from an "overweight" rating to an "equal weight" rating in a research note on Monday, October 28th. The Goldman Sachs Group downgraded United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 target price on the stock. in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered United Microelectronics from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.40.

United Microelectronics Stock Down 1.1 %

Shares of UMC stock traded down $0.08 on Friday, hitting $7.16. 8,619,498 shares of the stock were exchanged, compared to its average volume of 10,258,299. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $17.94 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 3.40 and a beta of 1.20. United Microelectronics has a fifty-two week low of $6.78 and a fifty-two week high of $9.00. The business has a 50-day moving average of $8.05 and a 200 day moving average of $8.24.

Institutional Trading of United Microelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in United Microelectronics by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 102,206 shares of the semiconductor company's stock valued at $895,000 after purchasing an additional 1,333 shares during the last quarter. Ignite Planners LLC raised its position in shares of United Microelectronics by 1.5% in the third quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company's stock valued at $760,000 after purchasing an additional 1,360 shares during the period. Inspire Advisors LLC lifted its stake in shares of United Microelectronics by 9.1% during the 1st quarter. Inspire Advisors LLC now owns 19,351 shares of the semiconductor company's stock worth $157,000 after buying an additional 1,609 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings 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 worth $626,000 after buying an additional 1,756 shares during the period. Finally, Hennessy Advisors Inc. grew its stake in United Microelectronics by 13.3% in the 2nd quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company's stock valued at $137,000 after buying an additional 1,836 shares during the last quarter. Institutional investors own 5.05% of the company's stock.

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.