United Microelectronics (NYSE:UMC) Stock Price Up 15.8% – Here’s What Happened

Shares of United Microelectronics Corporation (NYSE:UMC) traded up 15.8% on Monday . The stock traded as high as $28.07 and last traded at $27.8810. Approximately 5,304,085 shares were traded during mid-day trading, a decline of 59% from the average session volume of 12,881,651 shares. The stock had previously closed at $24.08.

Wall Street Analysts Forecast Growth

UMC has been the topic of a number of recent analyst reports. Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. Finally, BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average target price of $8.60.

United Microelectronics Stock Up 14.4%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.23 and a current ratio of 2.72. The company has a market cap of $69.35 billion, a P/E ratio of 42.37, a price-to-earnings-growth ratio of 2.84 and a beta of 1.61. The firm’s 50 day moving average price is $16.84 and its two-hundred day moving average price is $11.92.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. Equities research analysts anticipate that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in shares of United Microelectronics by 1,794.6% during the 1st quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 59,349 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of United Microelectronics by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock worth $40,438,000 after acquiring an additional 537,777 shares during the period. Sivia Capital Partners LLC grew its holdings in United Microelectronics by 25.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 6,028 shares in the last quarter. Legal & General Group Plc purchased a new position in United Microelectronics during the second quarter valued at approximately $108,000. Finally, Franklin Resources Inc. grew its position in shares of United Microelectronics by 37.9% during the 2nd quarter. Franklin Resources Inc. now owns 24,735 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 6,793 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

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.