Shares of United Microelectronics Corp (NYSE:UMC) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.10.
A number of research analysts have recently weighed in on UMC shares. HSBC upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Credit Suisse Group upgraded United Microelectronics from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 24th.
Shares of UMC stock traded up $0.01 during mid-day trading on Thursday, hitting $2.60. The stock had a trading volume of 1,204,750 shares, compared to its average volume of 1,062,649. United Microelectronics has a twelve month low of $1.89 and a twelve month high of $2.73. The stock has a market capitalization of $6,332.20, a PE ratio of 19.92 and a beta of 0.59. The company has a current ratio of 1.51, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24.
United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $0.02 earnings per share for the quarter. United Microelectronics had a return on equity of 4.48% and a net margin of 6.43%. The business had revenue of $1.23 billion during the quarter.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in United Microelectronics by 10.8% during the 4th quarter. Renaissance Technologies LLC now owns 15,525,289 shares of the semiconductor company’s stock worth $37,105,000 after purchasing an additional 1,513,000 shares in the last quarter. Aperio Group LLC increased its position in United Microelectronics by 1.1% during the 4th quarter. Aperio Group LLC now owns 10,112,040 shares of the semiconductor company’s stock worth $24,168,000 after purchasing an additional 108,441 shares in the last quarter. Wells Fargo & Company MN increased its position in United Microelectronics by 116.6% during the 3rd quarter. Wells Fargo & Company MN now owns 5,998,324 shares of the semiconductor company’s stock worth $14,995,000 after purchasing an additional 3,229,151 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in United Microelectronics by 141.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,044,109 shares of the semiconductor company’s stock worth $12,055,000 after purchasing an additional 2,955,362 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in United Microelectronics by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,254,236 shares of the semiconductor company’s stock worth $10,635,000 after purchasing an additional 125,547 shares in the last quarter. Institutional investors and hedge funds own 5.79% of the company’s stock.
About United Microelectronics
United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.
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