United Microelectronics Corporation (NYSE:UMC) Given Average Rating of “Strong Sell” by Brokerages

United Microelectronics Corporation (NYSE:UMC) has been assigned an average recommendation of “Strong Sell” from the five analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.60.

UMC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, BNP Paribas Exane upgraded United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 target price on the stock in a report on Tuesday, March 31st.

Institutional Investors Weigh In On United Microelectronics

A number of large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of United Microelectronics by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company’s stock worth $1,166,000 after purchasing an additional 1,074 shares during the period. Cetera Investment Advisers lifted its stake in shares of United Microelectronics by 7.7% during the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 1,103 shares during the period. Xponance LLC lifted its stake in shares of United Microelectronics by 7.2% during the 4th quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock worth $161,000 after purchasing an additional 1,384 shares during the period. Xponance Inc. lifted its stake in shares of United Microelectronics by 8.2% during the 3rd quarter. Xponance Inc. now owns 19,110 shares of the semiconductor company’s stock worth $145,000 after purchasing an additional 1,445 shares during the period. Finally, Bridgewater Advisors Inc. lifted its stake in shares of United Microelectronics by 1.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 79,803 shares of the semiconductor company’s stock worth $717,000 after purchasing an additional 1,449 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $17.17 on Friday. The business’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $9.56. The stock has a market cap of $43.23 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.23 and a current ratio of 2.72. United Microelectronics has a one year low of $6.56 and a one year high of $17.43.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. On average, analysts forecast that United Microelectronics will post 0.7 EPS for the current fiscal year.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.