United Microelectronics (NYSE:UMC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

United Microelectronics Corporation (NYSE:UMC)’s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $19.52 and traded as high as $20.65. United Microelectronics shares last traded at $19.7880, with a volume of 12,914,260 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UMC. HSBC raised shares of United Microelectronics from a “hold” rating to a “buy” rating and dropped their target price for the company from $37.42 to $33.76 in a report on Thursday, July 30th. Weiss Ratings upgraded United Microelectronics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Arete Research upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Zacks Research downgraded United Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, United Microelectronics presently has an average rating of “Hold” and a consensus price target of $36.79.

United Microelectronics Stock Performance

The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 0.47 and a beta of 1.60. The company’s fifty day simple moving average is $21.66 and its 200 day simple moving average is $19.52. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.10.

United Microelectronics (NYSE:UMC) last posted its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $2.16 billion during the quarter. United Microelectronics had a net margin of 33.18% and a return on equity of 21.00%. On average, equities research analysts expect that United Microelectronics Corporation will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of United Microelectronics by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company’s stock worth $25,591,000 after acquiring an additional 333,011 shares during the period. Nykredit A S bought a new position in shares of United Microelectronics during the second quarter worth approximately $9,525,000. Matthews International Capital Management LLC bought a new position in shares of United Microelectronics during the first quarter worth approximately $8,779,000. Moran Wealth Management LLC lifted its holdings in United Microelectronics by 14.9% during the 1st quarter. Moran Wealth Management LLC now owns 910,416 shares of the semiconductor company’s stock worth $8,176,000 after purchasing an additional 118,049 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in United Microelectronics by 17.9% during the 1st quarter. Quantinno Capital Management LP now owns 710,604 shares of the semiconductor company’s stock worth $6,381,000 after purchasing an additional 108,050 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

United Microelectronics Company Profile

United Microelectronics Corp. (NYSE:UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by customers rather than marketing its own branded semiconductor products.

The company provides wafer fabrication services across a range of process technologies, with particular expertise in specialty applications such as display driver ICs, automotive semiconductors, connectivity products, image sensors, power management components and embedded memory.