United Microelectronics Corporation (NYSE:UMC) Receives Average Rating of “Hold” from Brokerages

United Microelectronics Corporation (NYSE:UMC) has been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a strong buy recommendation on the company.

Several brokerages recently issued reports on UMC. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Bank of America cut shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th.

Institutional Trading of United Microelectronics

Several hedge funds have recently modified their holdings of UMC. Xponance Inc. grew its stake in shares of United Microelectronics by 8.2% during the third quarter. Xponance Inc. now owns 19,110 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,445 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of United Microelectronics by 10.2% during the third quarter. GeoWealth Management LLC now owns 15,710 shares of the semiconductor company’s stock worth $119,000 after buying an additional 1,459 shares during the period. Osaic Holdings Inc. lifted its stake in shares of United Microelectronics by 11.5% during the second quarter. Osaic Holdings Inc. now owns 14,756 shares of the semiconductor company’s stock worth $113,000 after buying an additional 1,516 shares during the period. Cibc World Market Inc. increased its position in shares of United Microelectronics by 8.9% in the 3rd quarter. Cibc World Market Inc. now owns 19,307 shares of the semiconductor company’s stock valued at $146,000 after acquiring an additional 1,575 shares during the period. Finally, Crestwood Advisors Group LLC raised its stake in United Microelectronics by 9.3% in the 2nd quarter. Crestwood Advisors Group LLC now owns 19,614 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 1,663 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Stock Performance

Shares of NYSE UMC opened at $7.90 on Wednesday. The stock has a market cap of $19.83 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.97 and a beta of 1.12. United Microelectronics has a 1 year low of $5.61 and a 1 year high of $8.33. The firm has a fifty day moving average price of $7.53 and a 200-day moving average price of $7.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.34 and a quick ratio of 1.92.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. During the same quarter in the prior year, the firm posted $0.18 EPS. Equities analysts anticipate that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

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.