Analysts Set United Microelectronics Co. (NYSE:UMC) Price Target at $7.40

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

Several research firms have recently issued reports on UMC. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th.

Institutional Trading of United Microelectronics

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

United Microelectronics Stock Down 2.3 %

United Microelectronics stock opened at $6.69 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. United Microelectronics has a 1-year low of $6.65 and a 1-year high of $9.00. The firm’s fifty day simple moving average is $7.59 and its 200-day simple moving average is $8.14. The company has a market capitalization of $16.76 billion, a P/E ratio of 10.29, a P/E/G ratio of 3.32 and a beta of 1.20.

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.