United Microelectronics (NYSE:UMC) Stock Price Up 3.7% – Here’s What Happened

Shares of United Microelectronics Co. (NYSE:UMC) shot up 3.7% during trading on Monday . The company traded as high as $6.70 and last traded at $6.80. 948,037 shares were traded during mid-day trading, a decline of 92% from the average session volume of 11,737,681 shares. The stock had previously closed at $6.55.

Analyst Ratings Changes

Separately, Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a report on Friday, March 21st. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, United Microelectronics presently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Price Performance

The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 4.44 and a beta of 1.20. The company’s 50 day moving average is $6.35 and its 200 day moving average is $6.93.

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 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 business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.30 earnings per share. On average, equities research analysts anticipate that United Microelectronics Co. will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Savant Capital LLC acquired a new position in shares of United Microelectronics in the fourth quarter valued at approximately $66,000. Verdence Capital Advisors LLC acquired a new position in United Microelectronics during the 4th quarter worth about $69,000. Callan Family Office LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new stake in shares of United Microelectronics during the fourth quarter worth $73,000. Finally, Natural Investments LLC bought a new position in United Microelectronics during the fourth quarter worth $74,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.