United Microelectronics Co. (NYSE:UMC) Receives Consensus Rating of “Hold” from Analysts

United Microelectronics Co. (NYSE:UMC) has been given an average rating of “Hold” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.40.

A number of brokerages recently commented on UMC. Citigroup upgraded shares of United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, March 21st. Wedbush cut United Microelectronics from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 16th.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently bought and sold shares of UMC. Millennium Management LLC raised its stake in shares of United Microelectronics by 3,091.8% during the 4th quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company’s stock worth $92,998,000 after buying an additional 13,880,446 shares during the last quarter. Northern Trust Corp raised its position in United Microelectronics by 238.8% during the fourth quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company’s stock worth $20,667,000 after acquiring an additional 2,244,574 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of United Microelectronics in the fourth quarter valued at about $12,768,000. JPMorgan Chase & Co. grew its position in shares of United Microelectronics by 150.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company’s stock valued at $13,122,000 after purchasing an additional 1,215,849 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of United Microelectronics by 958.3% during the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company’s stock worth $6,379,000 after purchasing an additional 889,972 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Trading Up 0.9 %

NYSE:UMC opened at $7.45 on Friday. United Microelectronics has a 12-month low of $5.61 and a 12-month high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $6.81 and its 200-day simple moving average is $6.63. The firm has a market cap of $18.67 billion, a P/E ratio of 12.85, a PEG ratio of 4.44 and a beta of 1.13.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $57.63 billion. During the same quarter in the previous year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that United Microelectronics will post 0.51 EPS for the current year.

About United Microelectronics

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.