United Microelectronics (NYSE:UMC) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• United Microelectronics shares moved above their 200-day moving average, reaching $20.65 before last trading near $19.79, compared with the 200-day average of $19.52.
• Analyst sentiment is mixed: recent upgrades were offset by a downgrade, resulting in a consensus “Hold” rating and an average price target of $36.79.
• The company reported quarterly revenue of $2.16 billion and EPS of $0.53, with a 33.18% net margin and 21% return on equity; institutional investors own about 5.05% of the stock.

Shares of United Microelectronics Corporation (NYSE:UMC - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $19.52 and traded as high as $20.65. United Microelectronics shares last traded at $19.7880, with a volume of 12,914,260 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on UMC shares. Weiss Ratings raised shares of United Microelectronics from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Zacks Research cut shares of United Microelectronics from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Arete Research raised shares of United Microelectronics from a "neutral" rating to a "buy" rating in a research report on Monday, August 10th. Wall Street Zen raised shares of United Microelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, HSBC upgraded shares of United Microelectronics from a "hold" rating to a "buy" rating and reduced their price objective for the company from $37.42 to $33.76 in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $36.79.

United Microelectronics Price Performance

The company has a market capitalization of $49.82 billion, a PE ratio of 18.49, a P/E/G ratio of 0.49 and a beta of 1.60. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $21.66 and a 200-day simple moving average of $19.52.

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

Institutional Investors Weigh In On United Microelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Euro Pacific Asset Management LLC lifted its stake in United Microelectronics by 2.9% during the third quarter. Euro Pacific Asset Management LLC now owns 18,333 shares of the semiconductor company's stock worth $449,000 after purchasing an additional 519 shares during the last quarter. V Square Quantitative Management LLC increased its stake in United Microelectronics by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 15,957 shares of the semiconductor company's stock valued at $391,000 after purchasing an additional 762 shares during the last quarter. Eastern Bank increased its stake in United Microelectronics by 9.9% in the third quarter. Eastern Bank now owns 8,483 shares of the semiconductor company's stock valued at $208,000 after purchasing an additional 763 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in United Microelectronics by 6.5% during the third quarter. Valeo Financial Advisors LLC now owns 12,875 shares of the semiconductor company's stock worth $315,000 after purchasing an additional 782 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in United Microelectronics by 7.4% during the second quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company's stock worth $351,000 after purchasing an additional 889 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Company Profile

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 its customers rather than marketing semiconductor products under its own consumer brand.

The company provides wafer fabrication services across a range of established and specialty semiconductor processes. Its offerings support applications including communications, automotive electronics, industrial systems, consumer devices, display products and other embedded technologies.

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