United Microelectronics Corporation (NYSE:UMC) Receives $8.60 Average PT from Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.60.

UMC has been the subject of several recent research reports. BNP Paribas Exane raised United Microelectronics to a “strong-buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th. Bank of America lowered shares of United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th.

Institutional Investors Weigh In On United Microelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in United Microelectronics by 1,782.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,956 shares of the semiconductor company’s stock worth $94,000 after buying an additional 11,321 shares during the last quarter. Compound Planning Inc. boosted its stake in United Microelectronics by 18.7% during the 4th quarter. Compound Planning Inc. now owns 53,144 shares of the semiconductor company’s stock worth $418,000 after acquiring an additional 8,371 shares during the last quarter. Corient Private Wealth LLC grew its holdings in United Microelectronics by 8.4% during the fourth quarter. Corient Private Wealth LLC now owns 146,966 shares of the semiconductor company’s stock valued at $1,155,000 after purchasing an additional 11,440 shares during the period. Summit Global Investments increased its stake in United Microelectronics by 80.5% in the fourth quarter. Summit Global Investments now owns 261,121 shares of the semiconductor company’s stock valued at $2,052,000 after purchasing an additional 116,456 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in United Microelectronics in the fourth quarter worth $134,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Price Performance

NYSE:UMC opened at $9.90 on Monday. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 5.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34. The stock’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $8.18. United Microelectronics has a 52-week low of $5.71 and a 52-week high of $12.68.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, analysts anticipate that United Microelectronics will post 0.51 EPS for the current year.

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.