United Microelectronics Corp (NYSE:UMC) Receives Consensus Rating of “Hold” from Analysts

United Microelectronics Corp (NYSE:UMC) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company.

UMC has been the subject of several research analyst reports. China International Capital upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. China Renaissance Securities upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley upgraded shares of United Microelectronics from an “underweight” rating to an “overweight” rating in a research note on Tuesday, December 3rd. Goldman Sachs Group upgraded shares of United Microelectronics from a “sell” rating to a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMC. FMR LLC boosted its stake in United Microelectronics by 256,831,800.0% in the first quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock valued at $4,828,000 after acquiring an additional 2,568,318 shares in the last quarter. Ovata Capital Management Ltd purchased a new stake in shares of United Microelectronics in the fourth quarter valued at about $5,192,000. State of New Jersey Common Pension Fund D raised its holdings in shares of United Microelectronics by 118.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,290,474 shares of the semiconductor company’s stock valued at $4,787,000 after buying an additional 1,244,082 shares during the last quarter. Millennium Management LLC raised its holdings in shares of United Microelectronics by 3,776.1% in the third quarter. Millennium Management LLC now owns 991,511 shares of the semiconductor company’s stock valued at $2,072,000 after buying an additional 965,931 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of United Microelectronics by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 17,885,150 shares of the semiconductor company’s stock valued at $47,932,000 after buying an additional 425,012 shares during the last quarter. Institutional investors own 5.33% of the company’s stock.

Shares of UMC stock traded up $0.01 on Friday, reaching $2.56. 913,517 shares of the stock were exchanged, compared to its average volume of 625,014. The company has a current ratio of 2.32, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. United Microelectronics has a twelve month low of $1.82 and a twelve month high of $2.85. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 19.69 and a beta of 1.03. The business’s 50 day moving average price is $2.63 and its 200 day moving average price is $2.40.

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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