United Microelectronics (NYSE:UMC) Upgraded to “Neutral” at BNP Paribas Exane

BNP Paribas Exane upgraded shares of United Microelectronics (NYSE:UMC) from an underperform rating to a neutral rating in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $8.60 price target on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.60.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $8.99 on Tuesday. The company has a market capitalization of $22.57 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 4.57 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 has a fifty day moving average of $10.00 and a 200-day moving average of $8.52. United Microelectronics has a one year low of $5.71 and a one year high of $12.68.

United Microelectronics (NYSE:UMC) last issued 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. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, equities analysts anticipate that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

A number of hedge funds have recently modified their holdings of UMC. Smartleaf Asset Management LLC purchased a new position in shares of United Microelectronics during the second quarter valued at $27,000. TD Private Client Wealth LLC purchased a new stake in United Microelectronics in the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $32,000 after acquiring an additional 3,234 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in United Microelectronics during the 4th quarter worth about $52,000. Finally, Arax Advisory Partners boosted its position in 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 acquiring an additional 7,390 shares during the period. Hedge funds and other 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.