United Microelectronics (NYSE:UMC) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a report released on Sunday morning.

Several other brokerages have also recently issued reports on UMC. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, United Microelectronics has an average rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Trading Down 1.5 %

United Microelectronics stock opened at $6.78 on Friday. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 3.28 and a beta of 1.20. United Microelectronics has a 12-month low of $6.78 and a 12-month high of $9.00. The firm has a 50 day moving average of $7.90 and a 200 day moving average of $8.22. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On United Microelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. purchased a new stake in United Microelectronics during the third quarter worth $37,000. GAMMA Investing LLC raised its position in shares of United Microelectronics by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 3,242 shares in the last quarter. Viking Fund Management LLC purchased a new stake in shares of United Microelectronics during the 3rd quarter worth $84,000. MML Investors Services LLC bought a new stake in United Microelectronics during the third quarter valued at about $86,000. Finally, Aprio Wealth Management LLC purchased a new position in United Microelectronics in the second quarter valued at about $95,000. 5.05% of the stock is currently owned by institutional investors.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.