United Microelectronics Corp (UMC) Receives $2.19 Average Price Target from Brokerages

Shares of United Microelectronics Corp (NYSE:UMC) have earned an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.19.

UMC has been the subject of a number of research reports. ValuEngine raised shares of United Microelectronics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. HSBC downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th.

A number of hedge funds have recently added to or reduced their stakes in the stock. LMR Partners LLP increased its stake in shares of United Microelectronics by 195.9% during the fourth quarter. LMR Partners LLP now owns 16,297,975 shares of the semiconductor company’s stock valued at $30,010,000 after purchasing an additional 10,789,991 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of United Microelectronics by 400.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,687,500 shares of the semiconductor company’s stock valued at $3,021,000 after purchasing an additional 1,350,000 shares in the last quarter. Northern Trust Corp increased its stake in shares of United Microelectronics by 76.5% during the fourth quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock valued at $4,791,000 after purchasing an additional 1,159,883 shares in the last quarter. Millennium Management LLC increased its stake in shares of United Microelectronics by 140.3% during the fourth quarter. Millennium Management LLC now owns 1,920,712 shares of the semiconductor company’s stock valued at $3,438,000 after purchasing an additional 1,121,267 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of United Microelectronics during the third quarter valued at approximately $1,755,000. 5.20% of the stock is owned by institutional investors.

Shares of NYSE:UMC remained flat at $$1.88 during midday trading on Monday. 193,948 shares of the stock traded hands, compared to its average volume of 610,807. The company has a market capitalization of $4.67 billion, a P/E ratio of 18.80 and a beta of 0.81. The company has a current ratio of 2.83, a quick ratio of 2.46 and a debt-to-equity ratio of 0.32. United Microelectronics has a 52-week low of $1.64 and a 52-week high of $3.14.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). United Microelectronics had a return on equity of 3.35% and a net margin of 4.73%. The company had revenue of $35.52 billion during the quarter, compared to the consensus estimate of $36.74 billion. United Microelectronics’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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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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