United Microelectronics Corporation (NYSE:UMC) Given Average Rating of “Hold” by Brokerages

Shares of United Microelectronics Corporation (NYSE:UMC) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a strong buy recommendation to the company.

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, Bank of America cut shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th.

United Microelectronics Stock Performance

Shares of NYSE UMC traded up $0.13 during midday trading on Friday, hitting $7.25. The company’s stock had a trading volume of 11,543,049 shares, compared to its average volume of 10,265,065. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. United Microelectronics has a 1-year low of $5.61 and a 1-year high of $8.33. The firm’s fifty day moving average price is $7.37 and its 200-day moving average price is $7.38. The firm has a market cap of $18.21 billion, a P/E ratio of 14.22, a P/E/G ratio of 4.12 and a beta of 1.29.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.36%. During the same quarter last year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors have recently added to or reduced their stakes in UMC. Smartleaf Asset Management LLC acquired a new stake in shares of United Microelectronics in the second quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of United Microelectronics by 313.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 3,234 shares during the last quarter. Wealth Alliance LLC bought a new stake in shares of United Microelectronics in the 2nd quarter worth approximately $77,000. MGO One Seven LLC acquired a new position in United Microelectronics in the third quarter worth approximately $77,000. Finally, Choreo LLC acquired a new position in United Microelectronics in the first quarter worth approximately $80,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics

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.