United Microelectronics (NYSE:UMC) Reaches New 1-Year Low – Time to Sell?

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

United Microelectronics Trading Down 3.8 %

The stock has a market capitalization of $15.44 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 3.09 and a beta of 1.17. 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 business has a 50 day simple moving average of $6.70 and a 200-day simple moving average of $7.71.

Institutional Trading of United Microelectronics

A number of large investors have recently bought and sold shares of UMC. Assetmark Inc. acquired a new stake in shares of United Microelectronics in the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its holdings in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after buying an additional 3,242 shares in the last quarter. Viking Fund Management LLC acquired a new stake in United Microelectronics in the 3rd quarter valued at approximately $84,000. MML Investors Services LLC bought a new stake in United Microelectronics in the 3rd quarter valued at approximately $86,000. Finally, Synovus Financial Corp acquired a new position in United Microelectronics during the 3rd quarter worth approximately $89,000. 5.05% of the stock is owned by institutional investors.

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.