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

United Microelectronics Co. (NYSE:UMC) has been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.33.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of United Microelectronics from $8.40 to $10.20 and gave the company a “buy” rating in a research report on Thursday. StockNews.com assumed coverage on shares of United Microelectronics in a research report on Thursday, October 5th. They issued a “buy” rating for the company.

United Microelectronics Stock Performance

Shares of UMC stock opened at $7.07 on Monday. The company’s 50 day moving average price is $7.13 and its two-hundred day moving average price is $7.63. The company has a market capitalization of $17.68 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 3.94 and a beta of 1.27. United Microelectronics has a 52 week low of $5.82 and a 52 week high of $8.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.43 and a current ratio of 1.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in United Microelectronics by 117.3% during the first quarter. JPMorgan Chase & Co. now owns 1,604,207 shares of the semiconductor company’s stock worth $14,631,000 after acquiring an additional 865,977 shares in the last quarter. Raymond James & Associates raised its stake in United Microelectronics by 210.9% during the first quarter. Raymond James & Associates now owns 289,563 shares of the semiconductor company’s stock worth $2,641,000 after acquiring an additional 196,429 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in United Microelectronics by 12.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 56,596 shares of the semiconductor company’s stock worth $516,000 after acquiring an additional 6,274 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in United Microelectronics by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 41,532 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in United Microelectronics by 26.4% during the first quarter. Natixis Advisors L.P. now owns 68,427 shares of the semiconductor company’s stock worth $624,000 after acquiring an additional 14,293 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

About United Microelectronics

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.