United Microelectronics (NYSE:UMC) Shares Gap Up – What’s Next?

United Microelectronics Corporation (NYSE:UMC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $15.92, but opened at $16.86. United Microelectronics shares last traded at $17.0090, with a volume of 3,493,515 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on UMC. BNP Paribas Exane raised United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price objective for the company in a research note on Tuesday, March 31st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Finally, Wall Street Zen raised United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, United Microelectronics presently has an average rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Stock Performance

The stock has a fifty day moving average of $10.78 and a 200-day moving average of $9.44. The firm has a market capitalization of $43.17 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 2.23, a current ratio of 2.72 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, research analysts anticipate that United Microelectronics Corporation will post 0.7 EPS for the current year.

Institutional Trading of United Microelectronics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Global Investments acquired a new stake in shares of United Microelectronics in the third quarter valued at approximately $1,097,000. Mirae Asset Global Investments Co. Ltd. grew its position in United Microelectronics by 3,854.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 168,648 shares of the semiconductor company’s stock worth $1,326,000 after buying an additional 164,383 shares in the last quarter. Moran Wealth Management LLC increased its stake in United Microelectronics by 13.8% during the 4th quarter. Moran Wealth Management LLC now owns 792,367 shares of the semiconductor company’s stock worth $6,228,000 after acquiring an additional 95,871 shares during the period. US Bancorp DE raised its holdings in United Microelectronics by 102.7% in the 3rd quarter. US Bancorp DE now owns 541,044 shares of the semiconductor company’s stock valued at $4,101,000 after acquiring an additional 274,157 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in United Microelectronics by 2,855.8% in the 3rd quarter. Quantbot Technologies LP now owns 235,604 shares of the semiconductor company’s stock valued at $1,786,000 after acquiring an additional 227,633 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Company Profile

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.