United Microelectronics Corporation (NYSE:UMC) Given Average Recommendation of “Hold” by Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.60.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. BNP Paribas Exane upgraded shares of United Microelectronics to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Bank of America downgraded shares of United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th.

Hedge Funds Weigh In On United Microelectronics

Large investors have recently made changes to their positions in the stock. Summit Global Investments purchased a new stake in shares of United Microelectronics in the third quarter worth about $1,097,000. Vise Technologies Inc. purchased a new position in United Microelectronics during the second quarter valued at approximately $1,474,000. North of South Capital LLP bought a new stake in United Microelectronics during the 3rd quarter worth approximately $948,000. West Family Investments Inc. increased its holdings in United Microelectronics by 37.2% during the 2nd quarter. West Family Investments Inc. now owns 187,696 shares of the semiconductor company’s stock worth $1,436,000 after acquiring an additional 50,925 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in United Microelectronics in the 2nd quarter worth approximately $475,000. 5.05% of the stock is owned by institutional investors.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $9.61 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $9.78 and a two-hundred day simple moving average of $8.21. United Microelectronics has a 1-year low of $5.71 and a 1-year high of $12.68. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 5.18 and a beta of 1.08.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Analysts anticipate that United Microelectronics will post 0.51 earnings per share for the current year.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.