United Microelectronics (NYSE:UMC) Downgraded to “Hold” Rating by Wall Street Zen

United Microelectronics (NYSE:UMC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $8.60.

United Microelectronics Stock Down 1.9%

UMC stock traded down $0.47 during trading on Friday, reaching $24.39. The stock had a trading volume of 6,711,000 shares, compared to its average volume of 17,012,104. United Microelectronics has a 1-year low of $6.56 and a 1-year high of $28.96. The company has a current ratio of 2.72, a quick ratio of 2.23 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $61.42 billion, a P/E ratio of 37.53, a PEG ratio of 2.87 and a beta of 1.58. The firm has a fifty day moving average price of $21.22 and a 200 day moving average price of $13.77.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, equities analysts anticipate that United Microelectronics will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On United Microelectronics

Hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its holdings in United Microelectronics by 7.4% during the second quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company’s stock worth $351,000 after buying an additional 889 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of United Microelectronics by 271.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of United Microelectronics by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company’s stock valued at $1,166,000 after acquiring an additional 1,074 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of United Microelectronics by 7.7% during the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Xponance LLC boosted its stake in shares of United Microelectronics by 7.2% during the 4th quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock worth $161,000 after acquiring an additional 1,384 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.