United Microelectronics (NYSE:UMC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

United Microelectronics Corporation (NYSE:UMC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.01 and traded as high as $10.53. United Microelectronics shares last traded at $10.3940, with a volume of 6,005,536 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America lowered shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, BNP Paribas Exane upgraded United Microelectronics to a “strong-buy” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, United Microelectronics currently has a consensus rating of “Hold” and a consensus price target of $8.60.

United Microelectronics Stock Performance

The firm has a market cap of $26.11 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 5.52 and a beta of 1.10. The stock’s 50 day moving average is $9.39 and its 200 day moving average is $8.01. The company has a current ratio of 2.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC acquired a new stake in shares of United Microelectronics during the second quarter worth $27,000. TD Private Client Wealth LLC acquired a new stake in United Microelectronics in the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in United Microelectronics by 313.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 3,234 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of United Microelectronics during the 4th quarter worth approximately $52,000. Finally, Arax Advisory Partners grew its position in shares of United Microelectronics by 583.7% during the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 7,390 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

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.