United Microelectronics (NYSE:UMC – Get Free Report) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports.
Several other research firms have also issued reports on UMC. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group downgraded United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 price objective for the company. in a research report on Tuesday, January 16th.
Get Our Latest Stock Analysis on UMC
United Microelectronics Trading Down 1.2 %
United Microelectronics (NYSE:UMC – Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that United Microelectronics will post 0.63 earnings per share for the current fiscal year.
Institutional Trading of United Microelectronics
Several hedge funds have recently made changes to their positions in UMC. GAMMA Investing LLC bought a new stake in shares of United Microelectronics during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC raised its stake in shares of United Microelectronics by 19.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,514 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of United Microelectronics during the 3rd quarter valued at $76,000. Intelligence Driven Advisers LLC bought a new stake in shares of United Microelectronics during the 3rd quarter valued at $77,000. Finally, Enterprise Financial Services Corp bought a new stake in shares of United Microelectronics during the 3rd quarter valued at $78,000. 5.05% of the stock is currently owned by institutional investors.
United Microelectronics Company Profile
United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.
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