United Microelectronics (NYSE:UMC) Lifted to “Buy” at Citigroup

United Microelectronics (NYSE:UMC) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

Other analysts also recently issued reports about the company. HSBC upgraded United Microelectronics from a “reduce” rating to a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price on the stock. in a research report on Tuesday, January 16th.

United Microelectronics Stock Up 0.8 %

Shares of NYSE:UMC opened at $7.76 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13. United Microelectronics has a 52-week low of $6.71 and a 52-week high of $8.97. The stock’s fifty day simple moving average is $7.93 and its 200-day simple moving average is $7.84. The company has a market capitalization of $19.41 billion, a P/E ratio of 11.09, a P/E/G ratio of 2.18 and a beta of 1.21.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a net margin of 24.79% and a return on equity of 15.82%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. As a group, equities research analysts forecast that United Microelectronics will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

Several large investors have recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC lifted its position in United Microelectronics by 5.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock worth $224,000 after buying an additional 1,452 shares during the period. EverSource Wealth Advisors LLC increased its stake in United Microelectronics by 19.8% during the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,514 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in United Microelectronics by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock worth $518,000 after acquiring an additional 1,671 shares during the last quarter. Inspire Advisors LLC increased its stake in United Microelectronics by 19.6% during the third quarter. Inspire Advisors LLC now owns 13,393 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 2,198 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in United Microelectronics by 2.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 100,839 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 2,246 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.