Shares of United Microelectronics Corporation (NYSE:UMC – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $22.46, but opened at $21.11. United Microelectronics shares last traded at $20.83, with a volume of 3,072,975 shares changing hands.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on UMC shares. BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, United Microelectronics has a consensus rating of “Strong Sell” and a consensus target price of $8.60.
View Our Latest Stock Report on United Microelectronics
United Microelectronics Price Performance
United Microelectronics (NYSE:UMC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. On average, equities analysts predict that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.
Institutional Investors Weigh In On United Microelectronics
Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC purchased a new stake in shares of United Microelectronics during the 2nd quarter worth approximately $27,000. TD Private Client Wealth LLC acquired a new position in United Microelectronics in the 4th quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in United Microelectronics by 313.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 3,234 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in United Microelectronics in the 4th quarter valued at $52,000. Finally, Arax Advisory Partners raised its holdings in United Microelectronics by 583.7% in the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 7,390 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.
About United Microelectronics
United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.
UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.
Featured Stories
- Five stocks we like better than United Microelectronics
- The Great AI Server Rotation Puts Hewlett Packard Enterprise and Super Micro Computer in Focus
- Generac’s AI Power Pivot Raises a Bigger Question About Data Center Demand
- Medtronic Bottoms, Healthy Rebound Ahead
- GitLab’s Price Recovery Gains Traction—Time to Get On Board?
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.
