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

United Microelectronics Co. (NYSE:UMC) gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group downgraded 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 note on Thursday, October 17th. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Finally, Citigroup lowered United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Trading Up 0.1 %

The firm has a fifty day moving average price of $6.39 and a 200-day moving average price of $7.43. 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 posted 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). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $5.30 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On United Microelectronics

Several large investors have recently bought and sold shares of the company. Genesis Investment Management LLP grew its stake in shares of United Microelectronics by 12.2% in the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after purchasing an additional 474,004 shares during the last quarter. State Street Corp grew its position in shares of United Microelectronics by 1.5% in the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock valued at $30,831,000 after buying an additional 53,105 shares during the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 8.1% in the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after buying an additional 240,380 shares during the period. Two Sigma Advisers LP raised its position in shares of 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 worth $10,774,000 after acquiring an additional 970,600 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of United Microelectronics by 16.5% in the third quarter. BNP Paribas Financial Markets now owns 1,186,187 shares of the semiconductor company’s stock worth $9,988,000 after acquiring an additional 168,399 shares during the period. 5.05% of the stock is currently owned by institutional investors.

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.