United Microelectronics Corp Downgraded to Neutral at UBS AG (UMC)
United Microelectronics Corp (NYSE:UMC) was downgraded by investment analysts at UBS AG from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of United Microelectronics Corp (NYSE:UMC) traded down 1.60% during mid-day trading on Friday, hitting $2.155. 359,213 shares of the company’s stock traded hands. United Microelectronics Corp has a one year low of $1.87 and a one year high of $2.44. The stock has a 50-day moving average of $2.09 and a 200-day moving average of $2.03. The company has a market cap of $5.377 billion and a P/E ratio of 13.27.
Separately, analysts at Goldman Sachs upgraded shares of United Microelectronics Corp from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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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