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

Key Points

• United Microelectronics (NYSE:UMC) has received a "hold (C-)" rating from Weiss Ratings, indicating a cautious outlook for the company's stock performance.
• The company reported $0.12 earnings per share for the last quarter, falling short of analysts' expectations of $0.14, with total revenue of $1.98 billion.
• Recent investment activity shows institutional investors enhancing their stakes in United Microelectronics, with notable increases from firms like Osaic Holdings and Crestwood Advisors.

United Microelectronics (NYSE:UMC - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

United Microelectronics Price Performance

NYSE:UMC traded up $0.06 during trading hours on Friday, reaching $7.58. 4,300,361 shares of the company's stock were exchanged, compared to its average volume of 10,394,189. The company has a market capitalization of $19.03 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 4.43 and a beta of 1.24. United Microelectronics has a 12 month low of $5.61 and a 12 month high of $8.33. 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 business's 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $7.29.

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 analysts' consensus estimates of $0.14 by ($0.02). United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. Sell-side analysts expect that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its stake in shares of United Microelectronics by 11.5% during 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. Crestwood Advisors Group LLC boosted its stake in shares of United Microelectronics by 9.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 19,614 shares of the semiconductor company's stock valued at $150,000 after buying an additional 1,663 shares during the period. Freedom Investment Management Inc. boosted its stake in shares of United Microelectronics by 7.5% during the 1st quarter. Freedom Investment Management Inc. now owns 24,869 shares of the semiconductor company's stock valued at $178,000 after buying an additional 1,730 shares during the period. Ignite Planners LLC boosted its stake in shares of United Microelectronics by 1.6% during the 2nd quarter. Ignite Planners LLC now owns 113,172 shares of the semiconductor company's stock valued at $847,000 after buying an additional 1,734 shares during the period. Finally, Hennessy Advisors Inc. raised its holdings in shares of United Microelectronics by 12.3% during the 3rd quarter. Hennessy Advisors Inc. now owns 16,741 shares of the semiconductor company's stock valued at $127,000 after purchasing an additional 1,833 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Company Profile

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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