United Microelectronics (NYSE:UMC) Stock Rating Upgraded by Wall Street Zen

United Microelectronics (NYSE:UMC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, United Microelectronics has a consensus rating of “Hold”.

United Microelectronics Stock Up 2.6%

Shares of NYSE UMC opened at $7.73 on Friday. The company’s 50-day simple moving average is $7.19 and its 200-day simple moving average is $7.35. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $8.33. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 4.12 and a beta of 1.24. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 17.08% and a return on equity of 11.36%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $58.25 billion. During the same quarter last year, the business earned $0.18 earnings per share. Equities analysts predict that United Microelectronics will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Trek Financial LLC lifted its stake in shares of United Microelectronics by 80.9% in the third quarter. Trek Financial LLC now owns 20,339 shares of the semiconductor company’s stock worth $154,000 after buying an additional 9,093 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of United Microelectronics in the third quarter worth about $414,000. Vest Financial LLC purchased a new position in shares of United Microelectronics in the third quarter worth about $105,000. Sequoia Financial Advisors LLC lifted its stake in shares of United Microelectronics by 3.1% in the third quarter. Sequoia Financial Advisors LLC now owns 182,141 shares of the semiconductor company’s stock worth $1,381,000 after buying an additional 5,538 shares in the last quarter. Finally, North of South Capital LLP purchased a new position in shares of United Microelectronics in the third quarter worth about $948,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.