United Microelectronics Corporation (NYSE:UMC) Receives Average Rating of "Hold" from Brokerages

Key Points

• United Microelectronics Corporation (NYSE:UMC) has received an average recommendation of "Hold" from six research firms, with one sell rating and one strong buy rating.
• The company reported a missed earnings estimate of $0.12 per share for the most recent quarter, falling short of the consensus estimate of $0.14.
• Institutional investors have been active, with Corient Private Wealth LLC boosting its holdings by 3.2%, while Vident Advisory LLC raised its position by 50.8% in the second quarter.

United Microelectronics Corporation (NYSE:UMC - Get Free Report) has been assigned an average recommendation of "Hold" from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.40.

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of United Microelectronics in a research report on Saturday, September 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC lifted its holdings in shares of United Microelectronics by 3.2% in the second quarter. Corient Private Wealth LLC now owns 180,195 shares of the semiconductor company's stock valued at $1,378,000 after purchasing an additional 5,651 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of United Microelectronics during the second quarter worth about $82,000. Osaic Holdings Inc. boosted its holdings in shares of United Microelectronics by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 14,756 shares of the semiconductor company's stock valued at $113,000 after buying an additional 1,516 shares during the period. Evergreen Capital Management LLC acquired a new position in United Microelectronics during the 2nd quarter valued at about $362,000. Finally, Vident Advisory LLC raised its position in shares of United Microelectronics by 50.8% during the 2nd quarter. Vident Advisory LLC now owns 569,810 shares of the semiconductor company's stock worth $4,359,000 after buying an additional 192,030 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Stock Performance

UMC traded down $0.06 during mid-day trading on Friday, reaching $7.24. 5,468,838 shares of the company traded hands, compared to its average volume of 6,420,234. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $8.35. The company's fifty day moving average price is $6.94 and its 200-day moving average price is $7.22. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18.18 billion, a P/E ratio of 14.77, a P/E/G ratio of 4.38 and a beta of 1.24.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $61.88 billion. During the same period in the prior year, the company posted $0.17 EPS. On average, sell-side analysts expect that United Microelectronics will post 0.51 EPS for the current year.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.

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