United Microelectronics (NYSE:UMC) Reaches New 1-Year High – Here’s Why

United Microelectronics Corporation (NYSE:UMC) shares hit a new 52-week high during trading on Thursday . The company traded as high as $11.20 and last traded at $11.1450, with a volume of 19419340 shares traded. The stock had previously closed at $10.78.

Analyst Ratings Changes

Several brokerages have recently issued reports on UMC. Weiss Ratings reissued a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Bank of America lowered shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

United Microelectronics Stock Performance

The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 5.79 and a beta of 1.08. The company’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $7.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.92 and a current ratio of 2.34.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 17.08% and a return on equity of 11.18%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $58.25 billion. During the same period last year, the firm posted $0.18 earnings per share. On average, equities research analysts anticipate that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

Institutional Trading of United Microelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of UMC. Jones Financial Companies Lllp boosted its stake in United Microelectronics by 1,794.6% during the first quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 59,349 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of United Microelectronics by 25.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 6,028 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of United Microelectronics by 16.1% in the 2nd quarter. Ballentine Partners LLC now owns 183,254 shares of the semiconductor company’s stock worth $1,402,000 after purchasing an additional 25,431 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of United Microelectronics by 6.3% in the 2nd quarter. Signaturefd LLC now owns 232,860 shares of the semiconductor company’s stock worth $1,781,000 after purchasing an additional 13,870 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

About United Microelectronics

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.