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

Shares of United Microelectronics Corporation (NYSE:UMC) have been given a consensus recommendation of “Strong Sell” by the five brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.60.

A number of brokerages have weighed in on UMC. BNP Paribas Exane upgraded United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price target for the company in a report on Tuesday, March 31st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in UMC. AQR Capital Management LLC boosted its position in shares of United Microelectronics by 873.8% during the 4th quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company’s stock worth $74,389,000 after purchasing an additional 8,492,466 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of United Microelectronics by 832.5% during the 3rd quarter. Two Sigma Investments LP now owns 3,530,564 shares of the semiconductor company’s stock worth $26,762,000 after purchasing an additional 3,151,936 shares in the last quarter. Rafferty Asset Management LLC lifted its position in United Microelectronics by 50.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after acquiring an additional 2,826,486 shares in the last quarter. Marshall Wace LLP bought a new position in United Microelectronics in the 3rd quarter valued at about $21,235,000. Finally, Balyasny Asset Management L.P. lifted its position in United Microelectronics by 2,011.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,980,820 shares of the semiconductor company’s stock valued at $15,569,000 after acquiring an additional 1,886,996 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $12.00 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $9.91 and a two-hundred day moving average price of $8.86. United Microelectronics has a 1-year low of $6.56 and a 1-year high of $12.82. The company has a market cap of $30.14 billion, a P/E ratio of 22.22, a PEG ratio of 6.75 and a beta of 1.16.

United Microelectronics (NYSE:UMC) last issued its quarterly 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. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $0.10 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that United Microelectronics will post 0.52 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.