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

Shares of United Microelectronics Co. (NYSE:UMC) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.40.

UMC has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research report on Thursday, October 17th. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors have recently made changes to their positions in UMC. Assetmark Inc. bought a new position in United Microelectronics in the 3rd quarter valued at approximately $37,000. GAMMA Investing LLC raised its stake in shares of United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new position in shares of United Microelectronics during the third quarter valued at $84,000. MML Investors Services LLC bought a new position in shares of United Microelectronics during the third quarter valued at $86,000. Finally, Synovus Financial Corp bought a new stake in United Microelectronics in the 3rd quarter worth about $89,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Trading Up 0.9 %

UMC opened at $6.75 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics has a 52 week low of $6.63 and a 52 week high of $9.00. The stock has a market cap of $16.92 billion, a PE ratio of 10.38, a PEG ratio of 3.24 and a beta of 1.20. The business has a 50 day moving average of $7.56 and a 200-day moving average of $8.13.

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.