Wall Street Zen Downgrades United Microelectronics (NYSE:UMC) to Hold

United Microelectronics (NYSE:UMC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Bank of America downgraded United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

United Microelectronics Stock Performance

Shares of NYSE UMC opened at $8.00 on Friday. The company has a 50-day simple moving average of $7.45 and a 200-day simple moving average of $7.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.34 and a quick ratio of 1.92. The company has a market cap of $20.08 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. United Microelectronics has a 12 month low of $5.61 and a 12 month high of $8.33.

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, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. During the same quarter last year, the business earned $0.18 earnings per share. On average, equities analysts anticipate that United Microelectronics will post 0.51 earnings per share for the current year.

Institutional Trading of United Microelectronics

A number of institutional investors have recently modified their holdings of UMC. Vise Technologies Inc. acquired a new position in United Microelectronics during the second quarter valued at approximately $1,474,000. Callan Family Office LLC raised its stake in shares of United Microelectronics by 406.8% in the 2nd quarter. Callan Family Office LLC now owns 54,754 shares of the semiconductor company’s stock valued at $419,000 after acquiring an additional 43,950 shares during the period. West Family Investments Inc. lifted its holdings in shares of United Microelectronics by 37.2% during the 2nd quarter. West Family Investments Inc. now owns 187,696 shares of the semiconductor company’s stock valued at $1,436,000 after acquiring an additional 50,925 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in United Microelectronics during the 2nd quarter worth $475,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in United Microelectronics by 31.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 365,708 shares of the semiconductor company’s stock valued at $2,798,000 after purchasing an additional 88,237 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

About United Microelectronics

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.