StockNews.com Downgrades United Microelectronics (NYSE:UMC) to Hold

United Microelectronics (NYSE:UMC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other research analysts have also issued reports about the company. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, United Microelectronics currently has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Down 1.5 %

United Microelectronics stock opened at $6.78 on Friday. The company’s 50 day simple moving average is $7.90 and its 200 day simple moving average is $8.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 3.35 and a beta of 1.20. United Microelectronics has a fifty-two week low of $6.78 and a fifty-two week high of $9.00.

Hedge Funds Weigh In On United Microelectronics

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in United Microelectronics by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 102,206 shares of the semiconductor company’s stock valued at $895,000 after buying an additional 1,333 shares during the period. Ignite Planners LLC raised its stake in United Microelectronics by 1.5% in the 3rd quarter. Ignite Planners LLC now owns 90,303 shares of the semiconductor company’s stock valued at $760,000 after acquiring an additional 1,360 shares during the period. Commonwealth Equity Services LLC lifted its holdings in United Microelectronics by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock valued at $626,000 after purchasing an additional 1,756 shares during the last quarter. Hennessy Advisors Inc. boosted its position in United Microelectronics by 13.3% during the second quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 1,836 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of United Microelectronics by 3.3% in the second quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 1,865 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.