United Microelectronics (UMC) Downgraded by UBS Group

UBS Group lowered shares of United Microelectronics (NYSE:UMC) from a buy rating to a neutral rating in a report released on Tuesday morning, 99wallstreet.com reports. UBS Group currently has $1.78 target price on the semiconductor company’s stock.

UMC has been the subject of several other reports. Credit Suisse Group cut United Microelectronics from a neutral rating to an underperform rating in a research note on Friday, November 2nd. HSBC cut United Microelectronics from a buy rating to a hold rating in a research note on Wednesday, October 24th. ValuEngine cut United Microelectronics from a hold rating to a sell rating in a research note on Monday, October 8th. CLSA cut United Microelectronics from an underperform rating to a sell rating in a research note on Monday, November 5th. Finally, Mizuho upgraded United Microelectronics from an underperform rating to a neutral rating in a research note on Monday, July 9th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $2.19.

Shares of NYSE:UMC opened at $1.68 on Tuesday. United Microelectronics has a 52-week low of $1.66 and a 52-week high of $3.14. The stock has a market capitalization of $4.35 billion, a PE ratio of 12.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.72 and a quick ratio of 2.02.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). United Microelectronics had a return on equity of 4.94% and a net margin of 6.93%. The firm had revenue of $39.39 billion during 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.

A number of hedge funds have recently made changes to their positions in UMC. Bank of Montreal Can purchased a new position in United Microelectronics during the second quarter valued at approximately $1,058,000. Acadian Asset Management LLC purchased a new position in United Microelectronics during the second quarter valued at approximately $50,527,000. Wetherby Asset Management Inc. raised its position in United Microelectronics by 17.2% during the second quarter. Wetherby Asset Management Inc. now owns 234,684 shares of the semiconductor company’s stock valued at $662,000 after acquiring an additional 34,474 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in United Microelectronics by 315.8% during the second quarter. BNP Paribas Arbitrage SA now owns 649,927 shares of the semiconductor company’s stock valued at $1,833,000 after acquiring an additional 493,623 shares in the last quarter. Finally, Aperio Group LLC raised its position in United Microelectronics by 7.6% during the second quarter. Aperio Group LLC now owns 10,747,314 shares of the semiconductor company’s stock valued at $30,307,000 after acquiring an additional 757,796 shares in the last quarter. Institutional investors own 5.39% of the company’s stock.

United Microelectronics Company Profile

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.

Recommended Story: Short Selling

Analyst Recommendations for United Microelectronics (NYSE:UMC)

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply