Analysts Set United Microelectronics Corp (NYSE:UMC) PT at $1.78

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United Microelectronics Corp (NYSE:UMC) has been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $1.78.

UMC has been the topic of several analyst reports. CLSA raised shares of United Microelectronics from a “sell” rating to an “outperform” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upgraded shares of United Microelectronics from an “underweight” rating to a “neutral” rating in a research note on Wednesday, April 24th. Credit Suisse Group upgraded shares of United Microelectronics from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 24th. HSBC upgraded shares of United Microelectronics from a “reduce” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, ValuEngine lowered shares of United Microelectronics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. LMR Partners LLP grew its stake in United Microelectronics by 195.9% in the 4th quarter. LMR Partners LLP now owns 16,297,975 shares of the semiconductor company’s stock valued at $30,010,000 after buying an additional 10,789,991 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of United Microelectronics by 23.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,775,653 shares of the semiconductor company’s stock worth $14,618,000 after purchasing an additional 1,497,157 shares in the last quarter. Northern Trust Corp grew its position in shares of United Microelectronics by 76.5% during the 4th quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock worth $4,791,000 after purchasing an additional 1,159,883 shares in the last quarter. FMR LLC grew its position in shares of United Microelectronics by 256,831,800.0% during the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock worth $4,828,000 after purchasing an additional 2,568,318 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of United Microelectronics by 140.3% during the 4th quarter. Millennium Management LLC now owns 1,920,712 shares of the semiconductor company’s stock worth $3,438,000 after purchasing an additional 1,121,267 shares in the last quarter. Institutional investors and hedge funds own 5.32% of the company’s stock.

NYSE:UMC traded up $0.13 on Wednesday, hitting $2.32. 148,499 shares of the company’s stock were exchanged, compared to its average volume of 595,117. The business has a 50-day simple moving average of $2.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.43 and a current ratio of 2.79. United Microelectronics has a 52 week low of $1.64 and a 52 week high of $2.96. The stock has a market capitalization of $5.26 billion, a P/E ratio of 31.57 and a beta of 0.95.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. United Microelectronics had a net margin of 3.33% and a return on equity of 2.31%. The firm had revenue of $32.58 billion for the quarter, compared to analysts’ expectations of $32.76 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis.

The business also recently declared an annual dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, July 16th will be paid a $0.0936 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a yield of 5.45%.

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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