Shares of United Microelectronics Corp (NYSE:UMC) have received an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $2.19.
UMC has been the topic of a number of recent analyst reports. ValuEngine upgraded United Microelectronics from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. HSBC lowered United Microelectronics from a “buy” rating to a “hold” rating in a report on Thursday, January 24th.
A number of institutional investors have recently modified their holdings of UMC. FNY Investment Advisers LLC increased its position in United Microelectronics by 16.2% in the first quarter. FNY Investment Advisers LLC now owns 250,000 shares of the semiconductor company’s stock worth $470,000 after buying an additional 34,841 shares during the last quarter. Geode Capital Management LLC increased its position in United Microelectronics by 487.7% in the fourth quarter. Geode Capital Management LLC now owns 704,000 shares of the semiconductor company’s stock worth $1,260,000 after buying an additional 584,209 shares during the last quarter. Millennium Management LLC increased its position in United Microelectronics by 140.3% in the fourth quarter. Millennium Management LLC now owns 1,920,712 shares of the semiconductor company’s stock worth $3,438,000 after buying an additional 1,121,267 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in United Microelectronics in the fourth quarter worth $406,000. Finally, D. E. Shaw & Co. Inc. increased its position in United Microelectronics by 524.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 553,426 shares of the semiconductor company’s stock worth $990,000 after buying an additional 464,772 shares during the last quarter. Institutional investors and hedge funds own 5.19% of the company’s stock.
United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). The business had revenue of $35.52 billion for the quarter, compared to the consensus estimate of $36.74 billion. United Microelectronics had a return on equity of 3.35% and a net margin of 4.73%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year.
About United Microelectronics
United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.
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