United Microelectronics (NYSE:UMC) Downgraded by StockNews.com to “Hold”

United Microelectronics (NYSE:UMC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Sunday.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Finally, The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Up 2.4 %

Shares of NYSE:UMC opened at $6.95 on Friday. United Microelectronics has a 1 year low of $6.78 and a 1 year high of $9.00. The company has a market capitalization of $17.40 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. The business has a fifty day moving average price of $7.90 and a two-hundred day moving average price of $8.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

Institutional Trading of United Microelectronics

Institutional investors have recently modified their holdings of the business. Assetmark Inc. bought a new stake in United Microelectronics during the 3rd quarter valued at $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 3,242 shares during the period. Viking Fund Management LLC purchased a new stake in United Microelectronics during the 3rd quarter worth about $84,000. MML Investors Services LLC bought a new position in United Microelectronics in the 3rd quarter worth about $86,000. Finally, Aprio Wealth Management LLC purchased a new position in United Microelectronics during the 2nd quarter valued at about $95,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

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.