Daiwa Capital Markets lowered shares of United Microelectronics Corp (NYSE:UMC) from a buy rating to a hold rating in a research report released on Wednesday morning.

Analyst Recommendations for United Microelectronics Corp (NYSE:UMC)

Shares of United Microelectronics Corp (NYSE:UMC) remained flat at $1.89 on Wednesday. 60,497 shares of the company’s stock were exchanged. The company has a market capitalization of $4.61 billion, a P/E ratio of 21.00 and a beta of 1.10. United Microelectronics Corp has a 12-month low of $1.60 and a 12-month high of $2.14. The company’s 50-day moving average is $1.88 and its 200-day moving average is $1.94.

United Microelectronics Corp (NYSE:UMC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter. Equities research analysts anticipate that United Microelectronics Corp will post $0.10 earnings per share for the current year.

Several large investors have recently modified their holdings of UMC. Bank of New York Mellon Corp raised its stake in shares of United Microelectronics Corp by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 41,100,054 shares of the company’s stock worth $81,789,000 after buying an additional 6,766,798 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of United Microelectronics Corp by 4.1% in the second quarter. Vanguard Group Inc. now owns 28,200,587 shares of the company’s stock worth $56,119,000 after buying an additional 1,103,516 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of United Microelectronics Corp by 17.5% in the first quarter. Renaissance Technologies LLC now owns 5,463,900 shares of the company’s stock worth $11,365,000 after buying an additional 815,414 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of United Microelectronics Corp during the second quarter worth $8,127,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of United Microelectronics Corp by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,781,770 shares of the company’s stock worth $3,546,000 after buying an additional 40,514 shares in the last quarter.

About United Microelectronics Corp

United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.

5 Day Chart for NYSE:UMC

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