United Microelectronics (NYSE:UMC) Rating Increased to Buy at StockNews.com

United Microelectronics (NYSE:UMC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group downgraded 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 note on Thursday, October 17th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Down 1.0 %

Shares of NYSE UMC opened at $7.17 on Friday. The stock has a 50-day moving average price of $8.05 and a two-hundred day moving average price of $8.24. United Microelectronics has a 12 month low of $6.78 and a 12 month high of $9.00. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. The company has a market cap of $17.96 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 3.40 and a beta of 1.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UMC. Advisors Asset Management Inc. increased its stake in shares of United Microelectronics by 60.0% in the third quarter. Advisors Asset Management Inc. now owns 169,462 shares of the semiconductor company’s stock valued at $1,427,000 after buying an additional 63,528 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in United Microelectronics in the third quarter valued at approximately $333,000. West Family Investments Inc. increased its position in United Microelectronics by 7.0% during the 3rd quarter. West Family Investments Inc. now owns 141,661 shares of the semiconductor company’s stock valued at $1,193,000 after purchasing an additional 9,294 shares during the period. Natixis Advisors LLC raised its holdings in United Microelectronics by 12.8% during the 3rd quarter. Natixis Advisors LLC now owns 181,884 shares of the semiconductor company’s stock worth $1,531,000 after purchasing an additional 20,656 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of United Microelectronics in the 3rd quarter worth approximately $169,000. 5.05% of the stock is owned by institutional investors.

About United Microelectronics

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.