United Microelectronics Corporation (NYSE:UMC) Receives Consensus Recommendation of "Strong Sell" from Analysts

Key Points

• "Strong Sell" consensus from five analysts—three sell and two hold—with an average 1‑year price target of $8.60.
• UMC reported quarterly EPS of $0.13 (beating the $0.12 estimate) but missed revenue at $1.80 billion versus $1.93 billion expected, with revenue up 7% year‑over‑year.
• The stock trades around $12.62 (near a 52‑week high of $12.74 and low of $6.56) with a market cap of $31.7 billion, and institutional ownership is low at 5.05%.

Shares of United Microelectronics Corporation (NYSE:UMC - Get Free Report) have been given an average rating of "Strong Sell" by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.60.

A number of analysts have recently commented on UMC shares. BNP Paribas Exane raised United Microelectronics from an "underperform" rating to a "neutral" rating and set a $8.60 price target on the stock in a research report on Tuesday, March 31st. JPMorgan Chase & Co. reissued an "underweight" rating on shares of United Microelectronics in a research report on Thursday, January 29th.

United Microelectronics Stock Performance

Shares of UMC opened at $12.62 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.34 and a debt-to-equity ratio of 0.12. The business's 50 day moving average price is $9.78 and its 200-day moving average price is $8.77. United Microelectronics has a 52 week low of $6.56 and a 52 week high of $12.74. The stock has a market cap of $31.70 billion, a P/E ratio of 23.37, a P/E/G ratio of 6.19 and a beta of 1.16.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The firm had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that United Microelectronics will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC bought a new position in United Microelectronics in the 2nd quarter valued at approximately $27,000. TD Private Client Wealth LLC bought a new position in United Microelectronics in the 4th quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $32,000 after acquiring an additional 3,234 shares in the last quarter. Kestra Advisory Services LLC bought a new position in United Microelectronics in the 4th quarter valued at approximately $52,000. Finally, Arax Advisory Partners lifted its position in United Microelectronics by 583.7% in the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company's stock valued at $68,000 after acquiring an additional 7,390 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.