United Microelectronics (NYSE:UMC) Shares Gap Down – Should You Sell?

United Microelectronics Co. (NYSE:UMC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.63, but opened at $6.49. United Microelectronics shares last traded at $6.52, with a volume of 1,129,062 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UMC. 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. StockNews.com cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. JPMorgan Chase & Co. downgraded shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, United Microelectronics presently has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Performance

The company has a market cap of $16.04 billion, a PE ratio of 9.85, a PEG ratio of 3.09 and a beta of 1.17. The stock has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $7.74. 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 Trading of United Microelectronics

A number of large investors have recently bought and sold shares of UMC. Marshall Wace LLP increased its stake in United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after buying an additional 4,577,177 shares during the period. Two Sigma Advisers LP lifted its position in United Microelectronics by 314.1% in the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after purchasing an additional 970,600 shares during the period. Genesis Investment Management LLP increased its position in 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 worth $36,655,000 after purchasing an additional 474,004 shares during the period. Barclays PLC raised its stake 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 worth $26,995,000 after buying an additional 240,380 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of United Microelectronics by 114.4% in the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock valued at $3,849,000 after buying an additional 234,606 shares in the last quarter. 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.