United Microelectronics Corporation (NYSE:UMC) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

A number of other analysts have also weighed in on the company. HSBC Holdings plc upgraded United Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Deutsche Bank AG lowered United Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Nomura lowered United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a report on Friday, June 30th. Instinet lowered United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a report on Monday, July 3rd. Finally, Macquarie lowered United Microelectronics Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, June 29th. Eight investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Sell” and an average target price of $2.10.

Shares of United Microelectronics Corporation (NYSE:UMC) traded down 1.31% on Monday, reaching $2.26. The company’s stock had a trading volume of 2,700,510 shares. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.02. United Microelectronics Corporation has a one year low of $1.74 and a one year high of $2.57. The firm has a market capitalization of $5.52 billion, a PE ratio of 16.74 and a beta of 0.61.

United Microelectronics Corporation (NYSE:UMC) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $37.54 billion during the quarter, compared to analyst estimates of $37.15 billion. United Microelectronics Corporation had a return on equity of 4.61% and a net margin of 6.52%. United Microelectronics Corporation’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, analysts anticipate that United Microelectronics Corporation will post $0.11 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of the stock. Karp Capital Management Corp acquired a new stake in shares of United Microelectronics Corporation during the first quarter valued at approximately $17,735,000. Morgan Stanley raised its stake in shares of United Microelectronics Corporation by 9,690.5% in the first quarter. Morgan Stanley now owns 6,128,440 shares of the semiconductor company’s stock valued at $11,827,000 after buying an additional 6,065,844 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of United Microelectronics Corporation by 25.0% in the second quarter. Acadian Asset Management LLC now owns 19,572,156 shares of the semiconductor company’s stock valued at $47,757,000 after buying an additional 3,909,952 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of United Microelectronics Corporation by 778.8% in the first quarter. JPMorgan Chase & Co. now owns 3,651,852 shares of the semiconductor company’s stock valued at $7,048,000 after buying an additional 3,236,297 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of United Microelectronics Corporation by 22.4% in the first quarter. Renaissance Technologies LLC now owns 12,087,589 shares of the semiconductor company’s stock valued at $23,329,000 after buying an additional 2,215,200 shares in the last quarter. Hedge funds and other institutional investors own 6.51% of the company’s stock.

About United Microelectronics Corporation

United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics 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.

Analyst Recommendations for United Microelectronics Corporation (NYSE:UMC)

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