United Microelectronics (NYSE:UMC) Upgraded at StockNews.com

StockNews.com upgraded shares of United Microelectronics (NYSE:UMCFree Report) from a hold rating to a buy rating in a research report released on Tuesday.

Separately, Citigroup upgraded shares of United Microelectronics from a neutral rating to a buy rating in a research note on Wednesday, April 24th.

Read Our Latest Analysis on UMC

United Microelectronics Stock Performance

Shares of UMC stock opened at $8.74 on Tuesday. The company has a 50 day moving average price of $8.17 and a 200-day moving average price of $8.04. United Microelectronics has a 52 week low of $6.71 and a 52 week high of $8.97. The firm has a market capitalization of $21.86 billion, a PE ratio of 12.49, a P/E/G ratio of 3.05 and a beta of 1.20. The company has a quick ratio of 1.93, a current ratio of 2.32 and a debt-to-equity ratio of 0.11.

United Microelectronics (NYSE:UMCGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. As a group, equities research analysts expect that United Microelectronics will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schechter Investment Advisors LLC boosted its holdings in shares of United Microelectronics by 5.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock worth $224,000 after buying an additional 1,452 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of United Microelectronics by 9.1% in the first quarter. Inspire Advisors LLC now owns 19,351 shares of the semiconductor company’s stock worth $157,000 after buying an additional 1,609 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of United Microelectronics by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock worth $518,000 after buying an additional 1,671 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of United Microelectronics by 2.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 100,839 shares of the semiconductor company’s stock worth $853,000 after buying an additional 2,246 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in shares of United Microelectronics by 18.2% in the fourth quarter. Drive Wealth Management LLC now owns 16,770 shares of the semiconductor company’s stock worth $142,000 after buying an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Company Profile

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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.

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