United Microelectronics Corporation (UMC) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst consensus is “Hold”: Three analysts rate UMC a sell, two a hold and three a buy, with an average 12-month price target of $36.79.
• UMC shares opened at $18.53, below their 50-day moving average of $21.69 but above their 200-day average of $19.90; the stock has traded between $6.97 and $28.96 over the past year.
• The semiconductor foundry reported quarterly revenue of $2.16 billion and EPS of $0.53, alongside a 33.18% net margin and 21% return on equity. Institutional investors own 5.05% of the company, with several funds recently increasing their positions.

United Microelectronics Corporation (NYSE:UMC - Get Free Report) has received a consensus recommendation of "Hold" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.79.

A number of equities analysts recently issued reports on UMC shares. Wall Street Zen raised shares of United Microelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. HSBC raised shares of United Microelectronics from a "hold" rating to a "buy" rating and reduced their price target for the company from $37.42 to $33.76 in a report on Thursday, July 30th. Zacks Research downgraded shares of United Microelectronics from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Weiss Ratings raised shares of United Microelectronics from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Finally, Arete Research raised shares of United Microelectronics from a "neutral" rating to a "buy" rating in a research report on Monday, August 10th.

United Microelectronics Price Performance

Shares of NYSE:UMC opened at $18.53 on Friday. The business has a 50 day moving average price of $21.69 and a 200 day moving average price of $19.90. United Microelectronics has a twelve month low of $6.97 and a twelve month high of $28.96. The company has a market cap of $46.65 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.47 and a beta of 1.60. 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 (NYSE:UMC - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. The company had revenue of $2.16 billion for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%. Research analysts predict that United Microelectronics will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On United Microelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of United Microelectronics by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company's stock worth $25,591,000 after acquiring an additional 333,011 shares during the period. Matthews International Capital Management LLC acquired a new stake in shares of United Microelectronics during the 1st quarter worth approximately $8,779,000. Moran Wealth Management LLC increased its position in shares of United Microelectronics by 14.9% during the first quarter. Moran Wealth Management LLC now owns 910,416 shares of the semiconductor company's stock valued at $8,176,000 after purchasing an additional 118,049 shares during the period. Quantinno Capital Management LP increased its position in shares of United Microelectronics by 17.9% during the first quarter. Quantinno Capital Management LP now owns 710,604 shares of the semiconductor company's stock valued at $6,381,000 after purchasing an additional 108,050 shares during the period. Finally, Nykredit A S bought a new stake in shares of United Microelectronics during the second quarter valued at approximately $9,525,000. 5.05% of the stock is currently owned by institutional investors.

About United Microelectronics

United Microelectronics Corp. NYSE: UMC is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by customers rather than marketing its own branded semiconductor products.

The company provides wafer fabrication services across a range of process technologies, with particular expertise in specialty applications such as display driver ICs, automotive semiconductors, connectivity products, image sensors, power management components and embedded memory.

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