United Microelectronics (NYSE:UMC) Cut to Underperform at BNP Paribas Exane

BNP Paribas Exane downgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to an underperform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have $8.60 price objective on the semiconductor company’s stock.

Several other research firms have also recently weighed in on UMC. Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “hold (c-)” rating on shares of United Microelectronics in a research note on Wednesday, October 8th. Finally, Bank of America lowered shares of United Microelectronics from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.60.

United Microelectronics Stock Down 4.0%

United Microelectronics stock opened at $10.16 on Wednesday. The company’s 50-day moving average price is $8.61 and its two-hundred day moving average price is $7.67. The company has a quick ratio of 1.92, a current ratio of 2.34 and a debt-to-equity ratio of 0.15. The stock has a market cap of $25.51 billion, a P/E ratio of 18.81, a P/E/G ratio of 5.62 and a beta of 1.08. United Microelectronics has a twelve month low of $5.71 and a twelve month high of $12.68.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a return on equity of 11.59% and a net margin of 17.60%.The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, analysts expect that United Microelectronics will post 0.51 EPS for the current year.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds have recently bought and sold shares of UMC. Jones Financial Companies Lllp lifted its holdings in shares of United Microelectronics by 1,794.6% during the 1st quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company’s stock worth $448,000 after acquiring an additional 59,349 shares during the period. Goldman Sachs Group Inc. increased its stake in United Microelectronics by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares during the last quarter. Sivia Capital Partners LLC raised its position in United Microelectronics by 25.8% during the second quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 6,028 shares in the last quarter. HB Wealth Management LLC bought a new stake in United Microelectronics during the second quarter worth $103,000. Finally, Ascent Group LLC bought a new stake in United Microelectronics during the second quarter worth $139,000. 5.05% of the stock is owned by institutional investors.

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.