United Microelectronics (NYSE:UMC) Upgraded at Wall Street Zen

United Microelectronics (NYSE:UMC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research analysts also recently issued reports on UMC. Bank of America downgraded shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Microelectronics has an average rating of “Hold”.

United Microelectronics Stock Up 0.6%

UMC opened at $7.16 on Monday. United Microelectronics has a one year low of $5.61 and a one year high of $8.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. The stock has a market capitalization of $17.97 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. The business’s 50-day simple moving average is $7.34 and its 200-day simple moving average is $7.38.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 11.36% and a net margin of 17.08%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $58.25 billion. During the same quarter last year, the business posted $0.18 EPS. Analysts anticipate that United Microelectronics will post 0.51 EPS for the current year.

Hedge Funds Weigh In On United Microelectronics

Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in United Microelectronics by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 94,094 shares of the semiconductor company’s stock worth $673,000 after acquiring an additional 11,122 shares during the period. Xponance Inc. purchased a new stake in shares of United Microelectronics in the first quarter valued at $125,000. Private Advisor Group LLC increased its stake in United Microelectronics by 29.0% in the first quarter. Private Advisor Group LLC now owns 18,284 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 4,110 shares during the last quarter. Lindbrook Capital LLC lifted its position in United Microelectronics by 12.3% during the first quarter. Lindbrook Capital LLC now owns 28,053 shares of the semiconductor company’s stock worth $201,000 after buying an additional 3,073 shares during the period. Finally, Crestwood Advisors Group LLC purchased a new position in United Microelectronics during the first quarter worth about $128,000. Hedge funds and other institutional investors 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.