United Microelectronics Corporation (NYSE:UMC) Receives $7.40 Consensus Target Price from Brokerages

Shares of United Microelectronics Corporation (NYSE:UMC) have been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.40.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday.

United Microelectronics Price Performance

NYSE UMC opened at $7.48 on Friday. United Microelectronics has a 12 month low of $5.61 and a 12 month high of $8.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. The firm has a market capitalization of $18.79 billion, a PE ratio of 15.27, a P/E/G ratio of 4.53 and a beta of 1.24. The company’s 50 day simple moving average is $6.97 and its 200 day simple moving average is $7.24.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $61.88 billion. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, equities research analysts forecast that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC bought a new stake in United Microelectronics during the second quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in United Microelectronics during the first quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its holdings in United Microelectronics by 134.8% during the first 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 in the last quarter. Wealth Alliance LLC bought a new stake in United Microelectronics during the second quarter worth approximately $77,000. Finally, Choreo LLC bought a new stake in United Microelectronics during the first quarter worth approximately $80,000. 5.05% of the stock is currently owned by institutional investors.

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.