United Microelectronics (UMC) Downgraded by UBS Group to Neutral

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

UMC has been the topic of several other research reports. Credit Suisse Group downgraded United Microelectronics from a neutral rating to an underperform rating in a research report on Friday, November 2nd. Nomura downgraded United Microelectronics from a buy rating to a neutral rating in a research report on Friday, October 12th. HSBC downgraded United Microelectronics from a buy rating to a hold rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. downgraded United Microelectronics from a neutral rating to an underweight rating in a research report on Wednesday, October 10th. Finally, Mizuho upgraded United Microelectronics from an underperform rating to a neutral rating in a research report on Monday, July 9th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. United Microelectronics has an average rating of Hold and an average target price of $2.19.

United Microelectronics stock opened at $1.72 on Tuesday. United Microelectronics has a 12 month low of $1.68 and a 12 month high of $3.14. The company has a current ratio of 2.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.35 billion, a P/E ratio of 12.71 and a beta of 0.90.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $39.39 billion during the quarter, compared to analysts’ expectations of $39.72 billion. United Microelectronics had a net margin of 6.93% and a return on equity of 4.90%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in UMC. Citadel Advisors LLC increased its holdings in shares of United Microelectronics by 61.5% in the second quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 53,347 shares during the period. 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 purchasing 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 purchasing an additional 34,474 shares during the period. Bank of Montreal Can bought a new position in shares of United Microelectronics in the second quarter worth $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 purchasing an additional 368,223 shares during the period. 5.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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