United Microelectronics (NYSE:UMC) Earns Hold (C-) Rating from Weiss Ratings

Key Points

• United Microelectronics (UMC) has been given a "hold (C-)" rating by Weiss Ratings, indicating a cautious outlook from analysts.
• In its recent earnings report, UMC reported earnings per share of $0.12, missing analysts' estimates of $0.14, and had a revenue of $1.98 billion for the quarter.
• Institutional investors have shown increased interest in UMC, with significant stakes acquired by firms like Rafferty Asset Management and Nomura Holdings in recent quarters.

United Microelectronics (NYSE:UMC - Get Free Report)'s stock had its "hold (c-)" rating reiterated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

United Microelectronics Trading Up 3.4%

UMC traded up $0.25 on Wednesday, reaching $7.54. 3,446,409 shares of the company's stock were exchanged, compared to its average volume of 10,584,227. The company's 50 day moving average is $6.95 and its 200-day moving average is $7.23. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 4.41 and a beta of 1.24. United Microelectronics has a twelve month low of $5.61 and a twelve month high of $8.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77.

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

Institutional Trading of United Microelectronics

Several large investors have recently bought and sold shares of UMC. Maple Rock Capital Partners Inc. acquired a new stake in United Microelectronics in the second quarter valued at approximately $24,024,000. Rafferty Asset Management LLC grew its position in United Microelectronics by 50.7% in the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company's stock valued at $64,283,000 after acquiring an additional 2,826,486 shares in the last quarter. Nomura Holdings Inc. grew its position in United Microelectronics by 360.1% in the first quarter. Nomura Holdings Inc. now owns 1,536,660 shares of the semiconductor company's stock valued at $10,987,000 after acquiring an additional 1,202,660 shares in the last quarter. Goldman Sachs Group Inc. grew its position in United Microelectronics by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company's stock valued at $40,438,000 after acquiring an additional 537,777 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in United Microelectronics in the first quarter valued at approximately $3,763,000. Institutional investors and hedge funds own 5.05% of the company's stock.

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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