United Microelectronics (NYSE:UMC) Shares Gap Down – What’s Next?

United Microelectronics Co. (NYSE:UMC) gapped down before the market opened on Tuesday . The stock had previously closed at $7.15, but opened at $6.92. United Microelectronics shares last traded at $6.98, with a volume of 2,359,857 shares traded.

Analyst Upgrades and Downgrades

Separately, Citigroup raised shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Down 2.0 %

The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 4.44 and a beta of 1.20. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $6.37 and its two-hundred day moving average price is $6.92.

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

Institutional Trading of United Microelectronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at $66,000. Verdence Capital Advisors LLC acquired a new position in United Microelectronics in the fourth quarter valued at $69,000. Callan Family Office LLC bought a new stake in United Microelectronics during the fourth quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new stake in United Microelectronics during the 4th quarter worth about $73,000. Finally, Natural Investments LLC acquired a new stake in United Microelectronics during the 4th quarter worth about $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.