United Microelectronics (NYSE:UMC) Upgraded by StockNews.com to Strong-Buy

United Microelectronics (NYSE:UMCGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

A number of other analysts also recently issued reports on UMC. Nomura downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 25th. Zacks Investment Research raised shares of United Microelectronics from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Saturday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, United Microelectronics presently has a consensus rating of “Buy” and an average price target of $8.28.

Shares of NYSE UMC opened at $8.41 on Thursday. The company’s fifty day moving average price is $8.78 and its 200 day moving average price is $10.14. United Microelectronics has a 1 year low of $7.49 and a 1 year high of $12.68. The company has a market capitalization of $20.90 billion, a PE ratio of 8.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.94 and a current ratio of 2.15.

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in United Microelectronics by 44.0% during the third quarter. Goldman Sachs Group Inc. now owns 1,328,739 shares of the semiconductor company’s stock worth $15,188,000 after purchasing an additional 406,271 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in United Microelectronics during the third quarter worth about $3,645,000. OneAscent Wealth Management LLC acquired a new stake in shares of United Microelectronics during the fourth quarter valued at about $160,000. Advisory Services Network LLC increased its position in shares of United Microelectronics by 1.6% during the third quarter. Advisory Services Network LLC now owns 71,760 shares of the semiconductor company’s stock valued at $820,000 after acquiring an additional 1,113 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of United Microelectronics by 355.3% during the third quarter. Cubist Systematic Strategies LLC now owns 765,422 shares of the semiconductor company’s stock valued at $8,749,000 after acquiring an additional 597,320 shares during the last quarter. Hedge funds and other institutional investors own 4.72% of the company’s stock.

About United Microelectronics (Get Rating)

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. It operates through Wafer Fabrication and New Business segments. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services.

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