United Microelectronics (UMC) Rating Lowered to Underperform at CLSA

United Microelectronics (NYSE:UMC) was downgraded by equities researchers at CLSA from an “outperform” rating to an “underperform” rating in a research report issued on Monday, The Fly reports.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised United Microelectronics from an “underweight” rating to an “equal weight” rating in a report on Monday, July 2nd. Sanford C. Bernstein raised United Microelectronics from an “underperform” rating to a “market perform” rating and raised their target price for the company from $2.10 to $2.60 in a report on Sunday, June 10th. Finally, Mizuho raised United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Monday, July 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $2.60.

United Microelectronics stock traded up $0.01 during midday trading on Monday, reaching $2.34. The company’s stock had a trading volume of 3,535 shares, compared to its average volume of 1,053,101. United Microelectronics has a fifty-two week low of $2.32 and a fifty-two week high of $3.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.02 and a current ratio of 2.32. The company has a market cap of $6.31 billion, a P/E ratio of 15.18 and a beta of 0.51.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, July 25th. The semiconductor company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. United Microelectronics had a return on equity of 5.74% and a net margin of 8.16%. The company had revenue of $38.85 million during the quarter, compared to the consensus estimate of $40.93 billion. During the same quarter last year, the company earned $0.03 earnings per share. United Microelectronics’s quarterly revenue was up 3.5% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its position in shares of United Microelectronics by 61.5% in the second quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 53,347 shares in the last quarter. Signaturefd LLC increased its position in shares of United Microelectronics by 11.1% in the second 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 in the last quarter. Wetherby Asset Management Inc. increased its position in shares of United Microelectronics by 17.2% in the second 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 in the last quarter. Bank of Montreal Can purchased a new position in shares of United Microelectronics in the second quarter valued at $1,058,000. Finally, Jane Street Group LLC increased its position in shares of United Microelectronics by 172.0% in the second 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 in the last quarter. 5.39% of the stock is owned by institutional investors.

About United Microelectronics

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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