United Microelectronics Co. (NYSE:UMC) Receives $7.40 Consensus Target Price from Brokerages

United Microelectronics Co. (NYSE:UMC) has been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $7.40.

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

United Microelectronics Stock Up 0.6 %

UMC stock opened at $6.34 on Monday. The stock has a market capitalization of $15.89 billion, a P/E ratio of 9.75, a PEG ratio of 3.09 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics has a one year low of $6.09 and a one year high of $9.00. The company has a 50 day moving average price of $6.66 and a two-hundred day moving average price of $7.66.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in UMC. Marshall Wace LLP lifted its holdings in shares of United Microelectronics by 682.1% during the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after acquiring an additional 4,577,177 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after acquiring an additional 970,600 shares in the last quarter. Genesis Investment Management LLP lifted its holdings in shares of United Microelectronics by 12.2% during the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after acquiring an additional 474,004 shares in the last quarter. Barclays PLC lifted its holdings in shares of United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after acquiring an additional 240,380 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of United Microelectronics during the 3rd quarter valued at $1,915,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.