United Microelectronics Corp Rating Increased to Buy at UBS AG (UMC)
United Microelectronics Corp (NYSE:UMC) was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of United Microelectronics Corp (NYSE:UMC) opened at 2.00 on Monday. United Microelectronics Corp has a 52 week low of $1.77 and a 52 week high of $2.44. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $2.0. The company has a market cap of $4.975 billion and a price-to-earnings ratio of 10.81.
United Microelectronics Corp (NYSE:UMC) last announced its earnings results on Wednesday, October 30th. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.03 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $839.40 million. Analysts expect that United Microelectronics Corp will post $0.16 EPS for the current fiscal year.
Separately, analysts at Bank of America Corp. downgraded shares of United Microelectronics Corp from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, October 31st. They now have a $1.73 price target on the stock, down previously from $2.19. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. United Microelectronics Corp currently has a consensus rating of “Hold” and an average price target of $7.87.
United Microelectronics Corp. is principally engaged in the manufacture of semiconductor products. The Company operates its businesses primarily through wafer production services.
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