United Microelectronics Corporation (NYSE:UMC) Receives $7.40 Consensus PT from Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have received a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.40.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research report on Saturday, September 27th.

United Microelectronics Trading Down 0.8%

UMC opened at $7.24 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. United Microelectronics has a one year low of $5.61 and a one year high of $8.35. The company has a market cap of $18.18 billion, a P/E ratio of 14.77, a PEG ratio of 4.35 and a beta of 1.24. The business’s 50-day simple moving average is $6.94 and its 200-day simple moving average is $7.22.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, equities research analysts expect that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC purchased a new stake in shares of United Microelectronics in the 2nd quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in United Microelectronics during the first quarter worth approximately $29,000. Farther Finance Advisors LLC lifted its stake in United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 2,859 shares during the last quarter. Wealth Alliance LLC acquired a new stake in shares of United Microelectronics in the second quarter valued at approximately $77,000. Finally, Choreo LLC purchased a new position in shares of United Microelectronics during the first quarter worth approximately $80,000. 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, 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.