United Microelectronics (NYSE:UMC) Downgraded to Equal Weight at Morgan Stanley

United Microelectronics (NYSE:UMC) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat Ratings reports.

Separately, The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Performance

NYSE:UMC opened at $7.41 on Monday. The firm has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $8.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The firm has a market cap of $18.56 billion, a PE ratio of 11.05, a P/E/G ratio of 4.12 and a beta of 1.18. United Microelectronics has a 1-year low of $7.02 and a 1-year high of $9.00.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that United Microelectronics will post 0.66 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in United Microelectronics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after purchasing an additional 434,018 shares during the period. Acadian Asset Management LLC grew its stake in United Microelectronics by 1,105.0% during the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock worth $1,659,000 after buying an additional 188,133 shares during the period. Blue Trust Inc. grew its stake in United Microelectronics by 136.1% during the third quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock worth $1,592,000 after buying an additional 104,797 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in United Microelectronics by 35.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after buying an additional 9,071 shares during the period. Finally, Diversified Trust Co purchased a new stake in United Microelectronics during the second quarter worth approximately $113,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, 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.