United Microelectronics Co. (NYSE:UMC) Receives Average Recommendation of “Hold” from Analysts

United Microelectronics Co. (NYSE:UMC) has received an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.40.

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

Institutional Investors Weigh In On United Microelectronics

Several institutional investors and hedge funds have recently bought and sold shares of UMC. Victory Capital Management Inc. raised its position in shares of United Microelectronics by 96.0% in the 3rd quarter. Victory Capital Management Inc. now owns 149,457 shares of the semiconductor company’s stock valued at $1,258,000 after buying an additional 73,202 shares in the last quarter. Two Sigma Advisers LP raised its position in United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after purchasing an additional 970,600 shares in the last quarter. Verition Fund Management LLC bought a new stake in United Microelectronics during the third quarter worth $1,099,000. MML Investors Services LLC acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at $86,000. Finally, JPMorgan Chase & Co. increased its stake in shares of United Microelectronics by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock valued at $6,787,000 after purchasing an additional 53,264 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Up 1.0 %

Shares of UMC opened at $6.27 on Monday. The firm’s 50-day simple moving average is $6.62 and its 200 day simple moving average is $7.63. 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 has a market cap of $15.72 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. United Microelectronics has a 52 week low of $6.09 and a 52 week high of $9.00.

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.