United Microelectronics Co. (NYSE:UMC) Given Average Rating of “Hold” by Analysts

United Microelectronics Co. (NYSE:UMC) has received a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.40.

Several research firms have recently issued reports on UMC. The Goldman Sachs Group lowered 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. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th.

United Microelectronics Stock Up 1.2 %

Shares of NYSE:UMC opened at $6.85 on Friday. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 3.28 and a beta of 1.20. United Microelectronics has a 12 month low of $6.71 and a 12 month high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $7.73 and a 200 day moving average price of $8.18.

Institutional Trading of United Microelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP increased its holdings in shares of United Microelectronics by 682.1% in the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares during the period. Genesis Investment Management LLP lifted its stake in United Microelectronics by 81.7% during the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock valued at $33,983,000 after acquiring an additional 1,744,721 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of United Microelectronics by 314.1% in 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 during the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 8.1% in the third quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after acquiring an additional 240,380 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of United Microelectronics by 114.4% during the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock worth $3,849,000 after purchasing an additional 234,606 shares during the last quarter. Hedge funds and other institutional investors 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.