Citigroup Inc. Downgrades United Microelectronics Corp to Sell (UMC)
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.
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