Share on StockTwits

United Microelectronics Corp (NYSE:UMC) was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.

United Microelectronics Corp (NYSE:UMC) traded down 0.46% during mid-day trading on Thursday, hitting $2.18. 1,908,603 shares of the company’s stock traded hands. United Microelectronics Corp has a 52 week low of $1.88 and a 52 week high of $2.58. The stock has a 50-day moving average of $2. and a 200-day moving average of $2.19. The company has a market cap of $5.442 billion and a price-to-earnings ratio of 23.05.

United Microelectronics Corp (NYSE:UMC) last released its earnings data on Wednesday, July 30th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.01. Analysts expect that United Microelectronics Corp will post $0.13 EPS for the current fiscal year.

The company also recently announced a annual dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Wednesday, July 9th will be paid a dividend of $0.0017 per share. This represents a dividend yield of 0.07%. The ex-dividend date is Monday, July 7th.

Separately, analysts at Bank of America upgraded shares of United Microelectronics Corp to a “buy” rating in a research note on Wednesday, June 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold”.

United Microelectronics Corp. is principally engaged in the manufacture of semiconductor products. The Company operates its businesses primarily through wafer production services.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.