United Microelectronics Co. (NYSE:UMC) Receives $7.40 Average Target Price from Analysts

Shares of United Microelectronics Co. (NYSE:UMC) have been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.40.

A number of brokerages have commented on UMC. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research note on Thursday, October 17th. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Finally, JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th.

United Microelectronics Stock Up 0.2 %

UMC opened at $6.53 on Thursday. The company has a market capitalization of $16.36 billion, a P/E ratio of 10.05, a P/E/G ratio of 3.09 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The firm’s fifty day moving average price is $7.02 and its two-hundred day moving average price is $7.93. United Microelectronics has a fifty-two week low of $6.31 and a fifty-two week high of $9.00.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors and hedge funds have recently modified their holdings of UMC. Assetmark Inc. acquired a new stake in United Microelectronics in the third quarter worth $37,000. GAMMA Investing LLC lifted its holdings in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 3,242 shares in the last quarter. Viking Fund Management LLC bought a new stake in United Microelectronics during the 3rd quarter worth approximately $84,000. MML Investors Services LLC acquired a new stake in United Microelectronics during the 3rd quarter worth approximately $86,000. Finally, Synovus Financial Corp bought a new position in United Microelectronics in the third quarter valued at approximately $89,000. 5.05% of the stock is owned by 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.