United Microelectronics (NYSE:UMC) Shares Gap Down – Time to Sell?

United Microelectronics Co. (NYSE:UMC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $6.79, but opened at $6.62. United Microelectronics shares last traded at $6.66, with a volume of 979,409 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Up 1.9 %

The company has a market capitalization of $17.10 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 4.44 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The firm’s fifty day moving average is $6.29 and its 200-day moving average is $7.02.

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

Institutional Investors Weigh In On United Microelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of United Microelectronics by 96.0% during the 3rd quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after purchasing an additional 73,202 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in United Microelectronics by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock worth $6,787,000 after acquiring an additional 53,264 shares during the last quarter. Two Sigma Advisers LP grew its holdings in United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after acquiring an additional 970,600 shares during the last quarter. Verition Fund Management LLC bought a new stake in United Microelectronics during the 3rd quarter worth approximately $1,099,000. Finally, MML Investors Services LLC bought a new stake in United Microelectronics during the 3rd quarter worth approximately $86,000. 5.05% of the stock is owned by institutional investors.

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.