United Microelectronics (NYSE:UMC) Upgraded by Wall Street Zen to “Buy” Rating

United Microelectronics (NYSE:UMC) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also weighed in on UMC. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $8.60.

United Microelectronics Stock Down 6.9%

UMC stock opened at $19.43 on Friday. United Microelectronics has a 1-year low of $6.56 and a 1-year high of $28.96. The business has a fifty day moving average price of $22.51 and a 200-day moving average price of $14.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. The stock has a market capitalization of $48.93 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.48 and a beta of 1.58.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Equities analysts forecast that United Microelectronics will post 0.69 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

A number of hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC lifted its holdings in United Microelectronics by 7.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 889 shares during the period. CoreCap Advisors LLC grew its stake in shares of United Microelectronics by 271.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of United Microelectronics by 0.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company’s stock valued at $1,166,000 after purchasing an additional 1,074 shares during the period. Cetera Investment Advisers increased its position in shares of United Microelectronics by 7.7% during the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Xponance LLC increased its position in shares of United Microelectronics by 7.2% during the 4th quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock valued at $161,000 after purchasing an additional 1,384 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.