Analysts Set United Microelectronics Co. (NYSE:UMC) Price Target at $7.40

United Microelectronics Co. (NYSE:UMC) has received an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.40.

A number of research firms recently issued reports on UMC. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a report on Thursday, October 17th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Finally, StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hennessy Advisors Inc. lifted its stake in shares of United Microelectronics by 13.3% during the 2nd quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock worth $137,000 after acquiring an additional 1,836 shares during the last quarter. Signaturefd LLC lifted its position in shares of United Microelectronics by 1.4% during the second quarter. Signaturefd LLC now owns 229,462 shares of the semiconductor company’s stock worth $2,010,000 after purchasing an additional 3,165 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of United Microelectronics by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock valued at $626,000 after purchasing an additional 1,756 shares during the period. Mizuho Securities Co. Ltd. grew its holdings in shares of United Microelectronics by 18.7% in the second quarter. Mizuho Securities Co. Ltd. now owns 82,335 shares of the semiconductor company’s stock worth $721,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in United Microelectronics in the 2nd quarter worth about $103,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Up 1.3 %

Shares of UMC opened at $6.82 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 3.09 and a beta of 1.17. United Microelectronics has a 1 year low of $6.31 and a 1 year high of $9.00. The business’s 50 day simple moving average is $6.97 and its 200-day simple moving average is $7.91.

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.