United Microelectronics Co. (NYSE:UMC) Receives $7.40 Consensus Target Price from Analysts

Shares of United Microelectronics Co. (NYSE:UMC) have been given an average recommendation of “Hold” by the five brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.40.

Several research analysts have recently weighed in on the stock. Wedbush cut shares of United Microelectronics from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 16th. Citigroup raised shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, March 21st.

United Microelectronics Stock Performance

UMC stock opened at $6.79 on Wednesday. United Microelectronics has a 1-year low of $5.61 and a 1-year high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.00 billion, a PE ratio of 11.70, a P/E/G ratio of 4.44 and a beta of 1.12. The business’s 50-day moving average price is $6.62 and its two-hundred day moving average price is $6.71.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $5.30 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts forecast that United Microelectronics will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in shares of United Microelectronics by 134.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,859 shares during the last quarter. Savant Capital LLC bought a new position in United Microelectronics in the fourth quarter valued at approximately $66,000. Verdence Capital Advisors LLC acquired a new position in shares of United Microelectronics during the 4th quarter worth approximately $69,000. Callan Family Office LLC acquired a new position in shares of United Microelectronics during the 4th quarter worth approximately $70,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of United Microelectronics during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About United Microelectronics

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.