United Microelectronics (NYSE:UMC) Upgraded at Exane BNP Paribas

Exane BNP Paribas upgraded shares of United Microelectronics (NYSE:UMC) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts have also weighed in on UMC. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. BNP Paribas Exane downgraded shares of United Microelectronics from a “neutral” rating to an “underperform” rating and set a $8.60 target price for the company. in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Bank of America downgraded United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.60.

United Microelectronics Stock Performance

UMC stock opened at $10.16 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.15. The firm has a market cap of $25.51 billion, a PE ratio of 18.81, a P/E/G ratio of 5.62 and a beta of 1.08. The business has a 50 day moving average of $8.61 and a 200-day moving average of $7.67. United Microelectronics has a 12-month low of $5.71 and a 12-month high of $12.68.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.United Microelectronics’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. As a group, sell-side analysts expect that United Microelectronics will post 0.51 earnings per share for the current year.

Institutional Trading of United Microelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC bought a new position in United Microelectronics in the 2nd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of United Microelectronics by 313.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after buying an additional 3,234 shares in the last quarter. Wealth Alliance LLC bought a new position in shares of United Microelectronics in the second quarter valued at approximately $77,000. MGO One Seven LLC purchased a new position in United Microelectronics during the third quarter valued at approximately $77,000. Finally, Euro Pacific Asset Management LLC bought a new stake in United Microelectronics during the 3rd quarter worth approximately $80,000. 5.05% of the stock is currently owned by institutional investors.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.