United Microelectronics (NYSE:UMC) Stock Rating Upgraded by Wall Street Zen

United Microelectronics (NYSE:UMC) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

UMC has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and an average target price of $8.60.

United Microelectronics Trading Down 0.2%

NYSE UMC opened at $19.43 on Friday. United Microelectronics has a 1-year low of $6.56 and a 1-year high of $28.96. The company has a current ratio of 2.72, a quick ratio of 2.23 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $48.93 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.31 and a beta of 1.58. The firm’s fifty day simple moving average is $22.51 and its 200-day simple moving average is $14.80.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data 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. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. As a group, sell-side analysts anticipate that United Microelectronics will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

A number of large investors have recently bought and sold shares of UMC. Dynamic Advisor Solutions LLC increased its position in United Microelectronics by 7.4% during the second quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company’s stock worth $351,000 after buying an additional 889 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of United Microelectronics by 271.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $1,166,000 after acquiring an additional 1,074 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of United Microelectronics by 7.7% in the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Xponance LLC lifted its holdings in United Microelectronics by 7.2% in 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 last quarter. 5.05% of the stock is currently owned by institutional investors.

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.