United Microelectronics Corporation (NYSE:UMC – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $10.62, but opened at $11.85. United Microelectronics shares last traded at $11.5480, with a volume of 3,102,373 shares trading hands.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on UMC. BNP Paribas Exane upgraded shares of United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price objective on the stock in a research note on Tuesday, March 31st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of United Microelectronics in a report on Thursday, January 29th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, United Microelectronics currently has a consensus rating of “Strong Sell” and a consensus target price of $8.60.
Get Our Latest Analysis on United Microelectronics
United Microelectronics Trading Up 9.6%
The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.91 and a current ratio of 2.34. The company has a market capitalization of $29.23 billion, a PE ratio of 21.55, a PEG ratio of 5.64 and a beta of 1.16. The stock has a fifty day moving average of $9.73 and a 200 day moving average of $8.73.
United Microelectronics (NYSE:UMC – Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. United Microelectronics had a net margin of 17.60% and a return on equity of 11.45%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the firm posted $0.10 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.
Institutional Trading of United Microelectronics
Several hedge funds have recently bought and sold shares of UMC. Smartleaf Asset Management LLC bought a new position in shares of United Microelectronics during the 2nd quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of United Microelectronics by 313.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,265 shares of the semiconductor company’s stock worth $32,000 after buying an additional 3,234 shares in the last quarter. TD Private Client Wealth LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC bought a new position in United Microelectronics during the fourth quarter valued at approximately $52,000. Finally, Arax Advisory Partners grew its holdings in United Microelectronics by 583.7% during the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 7,390 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.
United Microelectronics Company Profile
United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.
UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.
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