United Microelectronics Corp (NYSE:UMC) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.70 and last traded at $1.70, with a volume of 1249811 shares trading hands. The stock had previously closed at $1.87.
A number of equities research analysts have weighed in on UMC shares. Mizuho upgraded United Microelectronics from an “underperform” rating to a “neutral” rating in a research report on Monday, July 9th. CLSA downgraded United Microelectronics from an “outperform” rating to an “underperform” rating in a research report on Monday, October 8th. ValuEngine downgraded United Microelectronics from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. downgraded United Microelectronics from a “neutral” rating to an “underweight” rating in a research report on Wednesday, October 10th. Finally, Nomura downgraded United Microelectronics from a “buy” rating to a “neutral” rating in a research report on Friday, October 12th. Four investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.60.
The company has a quick ratio of 2.02, a current ratio of 2.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 13.36 and a beta of 0.90.
United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). United Microelectronics had a net margin of 6.93% and a return on equity of 4.90%. The firm had revenue of $39.39 billion for the quarter, compared to analysts’ expectations of $39.72 billion. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its position in United Microelectronics by 61.5% during the second 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 in the last quarter. Signaturefd LLC increased its holdings in shares of United Microelectronics by 11.1% in the second quarter. Signaturefd LLC now owns 180,459 shares of the semiconductor company’s stock worth $509,000 after buying an additional 18,069 shares during the period. Wetherby Asset Management Inc. increased its holdings in shares of United Microelectronics by 17.2% in the second quarter. Wetherby Asset Management Inc. now owns 234,684 shares of the semiconductor company’s stock worth $662,000 after buying an additional 34,474 shares during the period. Bank of Montreal Can purchased a new position in shares of United Microelectronics in the second quarter worth about $1,058,000. Finally, Jane Street Group LLC increased its holdings in shares of United Microelectronics by 172.0% in the second quarter. Jane Street Group LLC now owns 582,332 shares of the semiconductor company’s stock worth $1,642,000 after buying an additional 368,223 shares during the period. Institutional investors and hedge funds own 5.39% of the company’s stock.
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United Microelectronics Company Profile (NYSE:UMC)
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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