United Microelectronics (NYSE:UMC) Hits New 52-Week Low – Should You Sell?

United Microelectronics Co. (NYSE:UMC) reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.70 and last traded at $6.73, with a volume of 315310 shares. The stock had previously closed at $6.85.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. The company’s 50 day moving average is $7.66 and its 200 day moving average is $8.16.

Institutional Investors Weigh In On United Microelectronics

Several large investors have recently modified their holdings of the company. Marshall Wace LLP grew its position in United Microelectronics by 682.1% during the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after purchasing an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP grew its holdings in shares of United Microelectronics by 12.2% during the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after buying an additional 474,004 shares during the last quarter. State Street Corp grew its holdings in shares of United Microelectronics by 1.5% during the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after buying an additional 53,105 shares during the last quarter. Barclays PLC increased its position in United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after acquiring an additional 240,380 shares during the period. Finally, Two Sigma Advisers LP raised its stake in United Microelectronics by 314.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after acquiring an additional 970,600 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Company Profile

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.