United Microelectronics Corp (NYSE:UMC) was downgraded by investment analysts at Daiwa Capital Markets from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Shares of United Microelectronics Corp (NYSE:UMC) traded up 1.08% during trading on Wednesday, hitting $1.87. 297,645 shares of the stock were exchanged. The firm has a 50 day moving average price of $1.88 and a 200 day moving average price of $1.94. United Microelectronics Corp has a 52 week low of $1.60 and a 52 week high of $2.14. The firm has a market capitalization of $4.57 billion, a P/E ratio of 20.78 and a beta of 1.10.

United Microelectronics Corp (NYSE:UMC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter. Analysts forecast that United Microelectronics Corp will post $0.10 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of UMC. Wetherby Asset Management Inc. boosted its stake in shares of United Microelectronics Corp by 8.5% in the second quarter. Wetherby Asset Management Inc. now owns 112,577 shares of the company’s stock valued at $224,000 after buying an additional 8,776 shares during the period. World Asset Management Inc boosted its stake in shares of United Microelectronics Corp by 8.2% in the second quarter. World Asset Management Inc now owns 157,930 shares of the company’s stock valued at $314,000 after buying an additional 11,974 shares during the period. US Bancorp DE boosted its stake in shares of United Microelectronics Corp by 40.7% in the second quarter. US Bancorp DE now owns 112,130 shares of the company’s stock valued at $223,000 after buying an additional 32,453 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of United Microelectronics Corp by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,781,770 shares of the company’s stock valued at $3,546,000 after buying an additional 40,514 shares during the period. Finally, Barclays PLC acquired a new stake in shares of United Microelectronics Corp during the second quarter valued at $186,000.

United Microelectronics Corp Company Profile

United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.

5 Day Chart for NYSE:UMC

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