United Microelectronics (NYSE:UMC) Stock Rating Lowered by StockNews.com

United Microelectronics (NYSE:UMC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley cut 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 research note on Wednesday, October 30th. Finally, The Goldman Sachs Group downgraded 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Up 2.4 %

Shares of NYSE:UMC opened at $6.95 on Friday. The business’s 50-day moving average is $7.90 and its 200-day moving average is $8.22. United Microelectronics has a 1 year low of $6.78 and a 1 year high of $9.00. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 3.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in United Microelectronics by 35.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 9,071 shares in the last quarter. SG Americas Securities LLC bought a new position in United Microelectronics during the 1st quarter valued at $151,000. US Bancorp DE boosted its holdings in United Microelectronics by 2.2% during the 1st quarter. US Bancorp DE now owns 127,275 shares of the semiconductor company’s stock worth $1,030,000 after acquiring an additional 2,772 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of United Microelectronics by 1,105.0% in the 1st quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock worth $1,659,000 after acquiring an additional 188,133 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of United Microelectronics by 4.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 353,626 shares of the semiconductor company’s stock valued at $2,861,000 after purchasing an additional 13,508 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.