United Microelectronics (NYSE:UMC) Reaches New 12-Month Low – Time to Sell?

United Microelectronics Co. (NYSE:UMC)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $6.15 and last traded at $6.19, with a volume of 1307282 shares traded. The stock had previously closed at $6.40.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on UMC shares. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a report on Thursday, October 17th. Finally, Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Performance

The stock has a 50 day simple moving average of $6.72 and a two-hundred day simple moving average of $7.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 3.09 and a beta of 1.17.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of United Microelectronics by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock worth $6,787,000 after purchasing an additional 53,264 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of United Microelectronics by 2.7% in the 3rd quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock valued at $878,000 after purchasing an additional 2,712 shares during the period. Synovus Financial Corp acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at about $89,000. Tidal Investments LLC grew its stake in United Microelectronics by 110.6% during the 3rd quarter. Tidal Investments LLC now owns 115,287 shares of the semiconductor company’s stock worth $971,000 after buying an additional 60,533 shares during the last quarter. Finally, Chiron Investment Management LLC acquired a new position in United Microelectronics during the third quarter worth approximately $755,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Company Profile

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.