United Microelectronics (NYSE:UMC) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of United Microelectronics Corporation (NYSE:UMC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.39 and traded as high as $7.97. United Microelectronics shares last traded at $7.9550, with a volume of 3,627,883 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UMC shares. Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a report on Wednesday, October 8th. Bank of America lowered United Microelectronics from a “buy” rating to an “underperform” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

United Microelectronics Trading Down 0.8%

The business has a 50 day moving average of $7.63 and a 200-day moving average of $7.39. The stock has a market cap of $19.98 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 4.07 and a beta of 1.12. The company has a current ratio of 2.34, a quick ratio of 1.92 and a debt-to-equity ratio of 0.15.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, October 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $58.25 billion. United Microelectronics had a return on equity of 11.18% and a net margin of 17.08%.During the same period in the previous year, the firm posted $0.18 earnings per share. On average, analysts anticipate that United Microelectronics Corporation will post 0.51 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Several hedge funds have recently modified their holdings of UMC. Ariadne Wealth Management LP grew its holdings in United Microelectronics by 28.4% in the third quarter. Ariadne Wealth Management LP now owns 41,898 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 9,273 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of United Microelectronics in the third quarter worth $198,000. Lido Advisors LLC acquired a new stake in United Microelectronics in the 3rd quarter valued at $98,000. Focus Partners Wealth lifted its stake in shares of United Microelectronics by 64.2% during the third quarter. Focus Partners Wealth now owns 26,962 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 10,545 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of United Microelectronics by 4.9% in the third quarter. Bank of America Corp DE now owns 7,388,868 shares of the semiconductor company’s stock worth $56,008,000 after buying an additional 344,416 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.