United Microelectronics Corp (NYSE:UMC) has received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.60.
A number of brokerages have recently weighed in on UMC. Morgan Stanley raised shares of United Microelectronics from an “underweight” rating to an “equal weight” rating in a research report on Monday, July 2nd. Mizuho raised shares of United Microelectronics from an “underperform” rating to a “neutral” rating in a research report on Monday, July 9th. Sanford C. Bernstein raised shares of United Microelectronics from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $2.10 to $2.60 in a research report on Sunday, June 10th. CLSA lowered shares of United Microelectronics from an “outperform” rating to an “underperform” rating in a report on Monday. Finally, ValuEngine lowered shares of United Microelectronics from a “hold” rating to a “sell” rating in a report on Monday.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC raised its holdings in shares of United Microelectronics by 61.5% during the second quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 53,347 shares during the period. Signaturefd LLC increased its stake in United Microelectronics by 11.1% in the 2nd quarter. Signaturefd LLC now owns 180,459 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 18,069 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in United Microelectronics by 17.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 234,684 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 34,474 shares during the last quarter. Bank of Montreal Can acquired a new stake in United Microelectronics in the 2nd quarter valued at $1,058,000. Finally, Jane Street Group LLC increased its stake in United Microelectronics by 172.0% in the 2nd quarter. Jane Street Group LLC now owns 582,332 shares of the semiconductor company’s stock valued at $1,642,000 after buying an additional 368,223 shares during the last quarter. Institutional investors and hedge funds own 5.39% of the company’s stock.
Shares of NYSE UMC traded down $0.02 during midday trading on Monday, reaching $2.34. 638,300 shares of the stock were exchanged, compared to its average volume of 1,053,101. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 15.18 and a beta of 0.51. United Microelectronics has a 12 month low of $2.32 and a 12 month high of $3.14. The company has a quick ratio of 2.02, a current ratio of 2.32 and a debt-to-equity ratio of 0.32.
United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $38.85 million for the quarter, compared to analysts’ expectations of $40.93 billion. United Microelectronics had a net margin of 8.16% and a return on equity of 5.74%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share.
United Microelectronics Company Profile
United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor (CMOS) logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits (ICs), and complementary metal-oxide semiconductor image sensors.
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