JPMorgan Chase & Co. lowered shares of United Microelectronics (NYSE:UMC) from a neutral rating to an underweight rating in a report released on Wednesday, MarketBeat reports.
Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of United Microelectronics from a hold rating to a sell rating in a report on Monday, October 8th. CLSA downgraded shares of United Microelectronics from an outperform rating to an underperform rating in a report on Monday, October 8th. Mizuho raised shares of United Microelectronics from an underperform rating to a neutral rating in a report on Monday, July 9th. Finally, Morgan Stanley raised shares of United Microelectronics from an underweight rating to an equal weight rating in a report on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. United Microelectronics currently has a consensus rating of Hold and an average price target of $2.60.
UMC opened at $2.19 on Wednesday. The company has a market capitalization of $6.31 billion, a P/E ratio of 15.18 and a beta of 0.51. United Microelectronics has a 12 month low of $2.16 and a 12 month high of $3.14. The company has a quick ratio of 2.02, a current ratio of 2.32 and a debt-to-equity ratio of 0.32.
United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company had revenue of $38.85 million during the quarter, compared to the consensus estimate of $40.93 billion. United Microelectronics had a net margin of 8.16% and a return on equity of 5.74%. United Microelectronics’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS.
Large investors have recently made changes to their positions in the business. Jane Street Group LLC boosted its holdings in United Microelectronics by 172.0% in the 2nd quarter. Jane Street Group LLC now owns 582,332 shares of the semiconductor company’s stock valued at $1,642,000 after purchasing an additional 368,223 shares during the period. Signaturefd LLC boosted its holdings in United Microelectronics by 11.1% in the 2nd quarter. Signaturefd LLC now owns 180,459 shares of the semiconductor company’s stock valued at $509,000 after purchasing an additional 18,069 shares during the period. Bank of Montreal Can bought a new position in United Microelectronics in the 2nd quarter valued at $1,058,000. Aperio Group LLC boosted its holdings in United Microelectronics by 7.6% in the 2nd quarter. Aperio Group LLC now owns 10,747,314 shares of the semiconductor company’s stock valued at $30,307,000 after purchasing an additional 757,796 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in United Microelectronics by 61.5% in the 2nd quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 53,347 shares during the period. 5.39% of the stock is owned by hedge funds and other institutional investors.
United Microelectronics Company Profile
United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor (CMOS) logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits (ICs), and complementary metal-oxide semiconductor image sensors.
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