United Microelectronics Corporation (NYSE:UMC) Given Average Recommendation of “Reduce” by Analysts

United Microelectronics Corporation (NYSE:UMC) has earned an average rating of “Reduce” from the four brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.60.

UMC has been the subject of several recent research reports. BNP Paribas Exane upgraded United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price target for the company in a research note on Tuesday, March 31st. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd.

United Microelectronics Stock Performance

UMC opened at $18.22 on Friday. The business has a fifty day simple moving average of $11.89 and a 200 day simple moving average of $9.92. The company has a market capitalization of $45.86 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.16 and a beta of 1.41. United Microelectronics has a 1 year low of $6.56 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. Research analysts expect that United Microelectronics will post 0.7 EPS for the current year.

Institutional Trading of United Microelectronics

Several institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of United Microelectronics by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company’s stock valued at $1,166,000 after acquiring an additional 1,074 shares during the period. Cetera Investment Advisers lifted its position in shares of United Microelectronics by 7.7% during the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 1,103 shares during the period. Xponance LLC lifted its position in shares of United Microelectronics by 7.2% during the 4th quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock valued at $161,000 after acquiring an additional 1,384 shares during the period. Xponance Inc. lifted its position in shares of United Microelectronics by 8.2% during the 3rd quarter. Xponance Inc. now owns 19,110 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 1,445 shares during the period. Finally, Bridgewater Advisors Inc. lifted its position in shares of United Microelectronics by 1.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 79,803 shares of the semiconductor company’s stock valued at $717,000 after acquiring an additional 1,449 shares during the period. 5.05% of the stock is currently owned by institutional investors.

About United Microelectronics

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.