United Microelectronics’ (UMC) Underperform Rating Reiterated at BNP Paribas Exane

United Microelectronics (NYSE:UMC)‘s stock had its “underperform” rating reissued by analysts at BNP Paribas Exane in a research report issued on Thursday, Marketbeat reports.

UMC has been the topic of a number of other research reports. Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, United Microelectronics has a consensus rating of “Strong Sell” and an average target price of $8.60.

United Microelectronics Trading Down 0.8%

Shares of United Microelectronics stock traded down $0.19 on Thursday, reaching $22.03. 2,574,191 shares of the company were exchanged, compared to its average volume of 11,999,013. United Microelectronics has a fifty-two week low of $6.56 and a fifty-two week high of $23.69. The firm has a market capitalization of $55.47 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.48 and a beta of 1.41. The company has a current ratio of 2.72, a quick ratio of 2.23 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $12.56 and a 200-day moving average price of $10.21.

United Microelectronics (NYSE:UMC) last issued 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. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. On average, analysts expect that United Microelectronics will post 0.7 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Systematic Alpha Investments LLC acquired a new position in shares of United Microelectronics during the 1st quarter worth about $174,000. Amundi acquired a new stake in United Microelectronics in the 1st quarter valued at approximately $449,000. EverSource Wealth Advisors LLC increased its position in United Microelectronics by 45.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 26,119 shares of the semiconductor company’s stock worth $235,000 after buying an additional 8,139 shares during the period. Royal Bank of Canada lifted its holdings in shares of United Microelectronics by 26.0% during the first quarter. Royal Bank of Canada now owns 36,669 shares of the semiconductor company’s stock worth $330,000 after buying an additional 7,577 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of United Microelectronics by 17.9% in the first quarter. Quantinno Capital Management LP now owns 710,604 shares of the semiconductor company’s stock valued at $6,381,000 after acquiring an additional 108,050 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.