Analysts Set United Microelectronics Corp (NYSE:UMC) Target Price at $1.78

Shares of United Microelectronics Corp (NYSE:UMC) have received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $1.78.

Several research analysts recently commented on UMC shares. CLSA raised shares of United Microelectronics from a “sell” rating to an “outperform” rating in a research note on Tuesday, June 25th. ValuEngine raised shares of United Microelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Macquarie raised shares of United Microelectronics from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 10th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CAPROCK Group Inc. purchased a new position in shares of United Microelectronics in the 2nd quarter worth approximately $31,000. Private Advisor Group LLC purchased a new position in shares of United Microelectronics in the 2nd quarter worth approximately $42,000. Marshall Wace North America L.P. purchased a new position in shares of United Microelectronics in the 2nd quarter worth approximately $47,000. First Allied Advisory Services Inc. grew its position in shares of United Microelectronics by 150.2% in the 1st quarter. First Allied Advisory Services Inc. now owns 26,126 shares of the semiconductor company’s stock worth $48,000 after buying an additional 15,684 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of United Microelectronics by 39.5% in the 2nd quarter. Parallel Advisors LLC now owns 23,107 shares of the semiconductor company’s stock worth $51,000 after buying an additional 6,542 shares during the last quarter. 5.08% of the stock is currently owned by institutional investors and hedge funds.

UMC stock traded down $0.09 during trading on Monday, hitting $2.10. The company had a trading volume of 2,253,523 shares, compared to its average volume of 344,213. The firm has a market capitalization of $5.26 billion, a P/E ratio of 54.25 and a beta of 0.95. United Microelectronics has a 52-week low of $1.64 and a 52-week high of $2.59. The company has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $2.05. The company has a quick ratio of 1.70, a current ratio of 1.95 and a debt-to-equity ratio of 0.25.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.02 EPS for the quarter. The company had revenue of $1.16 billion for the quarter. United Microelectronics had a net margin of 2.04% and a return on equity of 1.41%.

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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