StockNews.com Downgrades United Microelectronics (NYSE:UMC) to Hold

StockNews.com lowered shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other analysts have also issued reports on UMC. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Trading Up 0.5 %

Shares of UMC opened at $6.98 on Friday. The firm has a market cap of $17.48 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. United Microelectronics has a fifty-two week low of $6.78 and a fifty-two week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The business has a 50-day moving average of $7.87 and a 200 day moving average of $8.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UMC. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of United Microelectronics by 35.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 9,071 shares during the last quarter. SG Americas Securities LLC purchased a new position in United Microelectronics in the 1st quarter worth approximately $151,000. US Bancorp DE increased its holdings in shares of United Microelectronics by 2.2% in the 1st quarter. US Bancorp DE now owns 127,275 shares of the semiconductor company’s stock worth $1,030,000 after buying an additional 2,772 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of United Microelectronics by 1,105.0% during the 1st quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock valued at $1,659,000 after buying an additional 188,133 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of United Microelectronics by 4.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 353,626 shares of the semiconductor company’s stock worth $2,861,000 after acquiring an additional 13,508 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

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.