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

Shares of United Microelectronics Co. (NYSE:UMC) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.40.

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

United Microelectronics Stock Performance

United Microelectronics stock opened at $6.16 on Monday. United Microelectronics has a fifty-two week low of $6.14 and a fifty-two week high of $9.00. The company 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 stock has a fifty day moving average of $6.70 and a two-hundred day moving average of $7.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors have recently added to or reduced their stakes in UMC. Marshall Wace LLP lifted its stake in shares of United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP lifted its position in United Microelectronics by 12.2% during the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after buying an additional 474,004 shares in the last quarter. State Street Corp grew its stake in United Microelectronics by 1.5% during the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after buying an additional 53,105 shares during the period. Barclays PLC increased its position in shares of United Microelectronics by 8.1% in the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after acquiring an additional 240,380 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after acquiring an additional 970,600 shares during the period. Hedge funds and other institutional investors 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.