United Microelectronics (NYSE:UMC) Shares Gap Up – Should You Buy?

United Microelectronics Co. (NYSE:UMC) gapped up before the market opened on Monday . The stock had previously closed at $5.78, but opened at $5.92. United Microelectronics shares last traded at $5.99, with a volume of 5,562,774 shares.

Wall Street Analysts Forecast Growth

UMC has been the topic of a number of research analyst reports. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Citigroup downgraded United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. One investment 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Up 4.2 %

The firm’s 50-day simple moving average is $6.41 and its 200-day simple moving average is $7.44. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 3.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

United Microelectronics (NYSE:UMC) last released its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $5.30 earnings per share. Sell-side analysts forecast that United Microelectronics Co. will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Assetmark Inc. acquired a new stake in United Microelectronics during the third quarter worth $37,000. GAMMA Investing LLC lifted its holdings in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 3,242 shares during the period. Savant Capital LLC acquired a new stake in shares of United Microelectronics during the 4th quarter valued at about $66,000. Viking Fund Management LLC bought a new stake in United Microelectronics in the third quarter valued at about $84,000. Finally, MML Investors Services LLC acquired a new position in United Microelectronics in the third quarter worth about $86,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.