United Microelectronics (NYSE:UMC) Raised to “Hold” at ValuEngine

United Microelectronics (NYSE:UMC) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday, ValuEngine reports.

UMC has been the topic of a number of other research reports. Goldman Sachs Group raised shares of United Microelectronics from a “neutral” rating to a “buy” rating and set a $5.30 price objective on the stock in a report on Sunday, August 2nd. Macquarie raised United Microelectronics from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised United Microelectronics from an “underweight” rating to a “neutral” rating in a research note on Wednesday, September 9th. Finally, HSBC upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.55.

Shares of UMC remained flat at $$4.34 during mid-day trading on Friday. The stock had a trading volume of 2,834,765 shares, compared to its average volume of 1,312,643. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.58 and a quick ratio of 2.22. United Microelectronics has a 1-year low of $2.08 and a 1-year high of $4.69. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 20.67 and a beta of 1.00. The business has a fifty day moving average of $3.90 and a 200-day moving average of $2.89.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $44.39 billion during the quarter, compared to analysts’ expectations of $43.63 billion. United Microelectronics had a return on equity of 7.60% and a net margin of 9.45%. United Microelectronics’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.

Several institutional investors have recently modified their holdings of the stock. BSW Wealth Partners purchased a new stake in United Microelectronics in the 2nd quarter valued at approximately $31,000. Virtu Financial LLC acquired a new position in shares of United Microelectronics in the second quarter worth $32,000. Advisor Group Holdings Inc. purchased a new stake in shares of United Microelectronics in the first quarter valued at $34,000. Balentine LLC acquired a new stake in shares of United Microelectronics during the second quarter valued at $41,000. Finally, CAPROCK Group Inc. increased its position in United Microelectronics by 53.7% during the 2nd quarter. CAPROCK Group Inc. now owns 17,945 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 6,273 shares in the last quarter. Hedge funds and other institutional investors own 5.01% of the company’s stock.

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.

Recommended Story: What is a Tariff?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for United Microelectronics (NYSE:UMC)

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.