United Microelectronics (NYSE:UMC) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat reports.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group lowered shares of United Microelectronics from a buy rating to a neutral rating and set a $8.90 target price on the stock. in a research report on Tuesday, January 16th. HSBC upgraded shares of United Microelectronics from a reduce rating to a hold rating in a research report on Thursday, January 25th.

United Microelectronics Trading Up 0.3 %

Shares of United Microelectronics stock opened at $7.78 on Wednesday. United Microelectronics has a 52-week low of $6.71 and a 52-week high of $8.97. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $7.93 and its 200-day simple moving average is $7.84. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, equities research analysts anticipate that United Microelectronics will post 0.6 earnings per share for the current year.

Institutional Trading of United Microelectronics

Large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of United Microelectronics in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in shares of United Microelectronics by 19.8% in the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,514 shares during the last quarter. Optas LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $89,000. Coldstream Capital Management Inc. purchased a new position in shares of United Microelectronics during the third quarter valued at approximately $76,000. Finally, Cherrydale Wealth Management LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $93,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.