Analysts Set United Microelectronics Corporation (NYSE:UMC) PT at $8.60

Shares of United Microelectronics Corporation (NYSE:UMC) have earned an average recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.60.

Several research firms have recently weighed in on UMC. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. BNP Paribas Exane upgraded United Microelectronics to a “strong-buy” rating in a research report on Wednesday, January 28th. Bank of America cut United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of United Microelectronics by 8.2% during the third quarter. Xponance Inc. now owns 19,110 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 1,445 shares during the period. GeoWealth Management LLC raised its holdings in United Microelectronics by 10.2% during the 3rd quarter. GeoWealth Management LLC now owns 15,710 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 1,459 shares during the last quarter. Hennessy Advisors Inc. lifted its position in United Microelectronics by 8.8% during the 4th quarter. Hennessy Advisors Inc. now owns 18,212 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 1,471 shares during the period. Allworth Financial LP boosted its stake in shares of United Microelectronics by 20.5% in the 4th quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of United Microelectronics by 11.5% during the second quarter. Osaic Holdings Inc. now owns 14,756 shares of the semiconductor company’s stock worth $113,000 after buying an additional 1,516 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Stock Up 1.1%

Shares of NYSE UMC opened at $10.08 on Thursday. United Microelectronics has a 52-week low of $5.71 and a 52-week high of $12.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.92 and a current ratio of 2.34. The business has a fifty day moving average of $8.87 and a two-hundred day moving average of $7.75. The stock has a market cap of $25.32 billion, a PE ratio of 18.67, a PEG ratio of 5.34 and a beta of 1.10.

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

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.