United Microelectronics Corporation (NYSE:UMC) Receives $7.40 Average PT from Brokerages

Shares of United Microelectronics Corporation (NYSE:UMC) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.40.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of United Microelectronics in a report on Saturday, September 27th.

Institutional Investors Weigh In On United Microelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC bought a new stake in United Microelectronics in the second quarter worth about $27,000. Golden State Wealth Management LLC bought a new stake in United Microelectronics in the first quarter worth about $29,000. Farther Finance Advisors LLC raised its position in United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,859 shares in the last quarter. Wealth Alliance LLC bought a new stake in United Microelectronics in the second quarter worth about $77,000. Finally, Valeo Financial Advisors LLC bought a new stake in United Microelectronics in the second quarter worth about $82,000. 5.05% of the stock is currently owned by institutional investors.

United Microelectronics Stock Performance

UMC stock opened at $7.28 on Friday. The company has a market capitalization of $18.28 billion, a P/E ratio of 14.85, a PEG ratio of 4.41 and a beta of 1.24. The company has a 50-day simple moving average of $6.95 and a 200 day simple moving average of $7.23. United Microelectronics has a fifty-two week low of $5.61 and a fifty-two week high of $8.33. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $61.88 billion. United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.During the same period in the previous year, the company earned $0.17 EPS. Sell-side analysts predict that United Microelectronics will post 0.51 earnings per share for the current fiscal year.

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.