United Microelectronics Corporation (NYSE:UMC) Stock Has Average Target Price of $8.60

Key Points

• United Microelectronics has a “Hold” consensus rating from six analysts: three sell ratings, one hold, one buy and one strong buy. The average 12-month price target is $8.60.
• UMC reported quarterly EPS of $0.53 on revenue of $2.16 billion, with a 33.18% net margin and 21.00% return on equity. Analysts expect full-year EPS of $1.23.
• Institutional investors and hedge funds own 5.05% of the company, while several firms recently initiated or increased positions. UMC’s shares opened at $24.31, within a 12-month range of $6.97 to $28.96.

United Microelectronics Corporation (NYSE:UMC - Get Free Report) has been given a consensus recommendation of "Hold" by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.60.

UMC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of United Microelectronics from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Zacks Research upgraded United Microelectronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of United Microelectronics from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Finally, Arete Research raised shares of United Microelectronics from a "neutral" rating to a "buy" rating in a report on Monday, August 10th.

United Microelectronics Stock Up 0.0%

Shares of United Microelectronics stock opened at $24.31 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.10. United Microelectronics has a 12-month low of $6.97 and a 12-month high of $28.96. The firm has a market capitalization of $61.21 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 0.57 and a beta of 1.59. The stock's fifty day moving average is $20.53 and its 200-day moving average is $18.12.

United Microelectronics (NYSE:UMC - Get Free Report) last released its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $2.16 billion during the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%. Equities analysts anticipate that United Microelectronics will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Continuum Advisory LLC bought a new position in shares of United Microelectronics in the second quarter worth about $28,000. CoreCap Advisors LLC lifted its position in shares of United Microelectronics by 271.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. Trust Co. of Vermont bought a new stake in United Microelectronics during the 2nd quarter valued at approximately $41,000. Strategic Investment Solutions Inc. IL bought a new stake in United Microelectronics during the 2nd quarter valued at approximately $76,000. Finally, Eastern Bank acquired a new stake in United Microelectronics in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 5.05% of the company's stock.

About United Microelectronics

United Microelectronics Corporation NYSE: UMC is a Taiwan-based semiconductor foundry that manufactures integrated circuits for customers that design and market their own chips. The company provides wafer fabrication services rather than selling semiconductor products under its own consumer brand.

UMC supports a broad range of applications, including communications, automotive systems, industrial equipment, consumer electronics and computing. Its manufacturing portfolio includes logic and mixed-signal technologies, radio-frequency processes, embedded high-voltage solutions, display-driver chips, image sensors and other specialty semiconductor technologies.

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