United Microelectronics Co. (NYSE:UMC) Given Consensus Recommendation of “Buy” by Brokerages

United Microelectronics Co. (NYSE:UMC – Get Rating) has been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.28.

Several analysts recently commented on UMC shares. Nomura cut United Microelectronics from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 25th. Zacks Investment Research upgraded United Microelectronics from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Saturday, April 30th. Finally, StockNews.com upgraded United Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 5th.

Large investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of United Microelectronics by 256,831,800.0% in the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock valued at $4,828,000 after purchasing an additional 2,568,318 shares during the last quarter. Morgan Stanley lifted its stake in shares of United Microelectronics by 48.9% in the 2nd quarter. Morgan Stanley now owns 2,062,047 shares of the semiconductor company’s stock valued at $19,486,000 after purchasing an additional 676,871 shares during the last quarter. Raymond James & Associates lifted its stake in shares of United Microelectronics by 20.5% in the 3rd quarter. Raymond James & Associates now owns 54,773 shares of the semiconductor company’s stock valued at $626,000 after purchasing an additional 9,323 shares during the last quarter. BlackRock Inc. lifted its stake in shares of United Microelectronics by 19.3% in the 3rd quarter. BlackRock Inc. now owns 14,947,579 shares of the semiconductor company’s stock valued at $170,849,000 after purchasing an additional 2,418,867 shares during the last quarter. Finally, Barclays PLC lifted its stake in United Microelectronics by 94.7% during the 3rd quarter. Barclays PLC now owns 255,582 shares of the semiconductor company’s stock worth $2,921,000 after acquiring an additional 124,315 shares in the last quarter. Institutional investors own 4.72% of the company’s stock.

Shares of UMC opened at $8.55 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.94 and a current ratio of 2.15. United Microelectronics has a one year low of $7.49 and a one year high of $12.68. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 8.91 and a beta of 1.04. The stock has a 50 day moving average price of $8.55 and a 200 day moving average price of $9.94.

United Microelectronics (NYSE:UMC – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. United Microelectronics had a return on equity of 25.47% and a net margin of 28.39%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.23 billion. On average, analysts predict that United Microelectronics will post 1.26 earnings per share for the current year.

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. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.

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