United Microelectronics (NYSE:UMC) Rating Lowered to “Hold” at Wall Street Zen

United Microelectronics (NYSE:UMC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, United Microelectronics currently has a consensus rating of “Hold”.

United Microelectronics Stock Up 0.4%

UMC stock opened at $7.44 on Friday. The firm has a 50-day moving average price of $7.30 and a 200-day moving average price of $7.38. United Microelectronics has a 12 month low of $5.61 and a 12 month high of $8.33. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18.69 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, October 29th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $58.25 billion. United Microelectronics had a net margin of 17.08% and a return on equity of 11.36%. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, equities research analysts anticipate that United Microelectronics will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

Several large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC acquired a new position in shares of United Microelectronics during the second quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in United Microelectronics by 313.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 3,234 shares during the period. Wealth Alliance LLC purchased a new stake in shares of United Microelectronics in the second quarter worth about $77,000. MGO One Seven LLC purchased a new stake in United Microelectronics in the 3rd quarter worth approximately $77,000. Finally, Choreo LLC purchased a new stake in United Microelectronics during the first quarter worth $80,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.