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

StockNews.com downgraded shares of United Microelectronics (NYSE:UMC) from a buy rating to a hold rating in a research note published on Sunday morning.

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

United Microelectronics Stock Performance

Shares of NYSE:UMC opened at $6.80 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. United Microelectronics has a 52 week low of $6.74 and a 52 week high of $9.00. The firm has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $8.21. The stock has a market capitalization of $17.04 billion, a P/E ratio of 10.73, a PEG ratio of 3.28 and a beta of 1.20.

Institutional Trading of United Microelectronics

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP raised its holdings in shares of United Microelectronics by 81.7% in the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock valued at $33,983,000 after buying an additional 1,744,721 shares during the period. Two Sigma Advisers LP lifted its position in shares of United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 970,600 shares in the last quarter. Barclays PLC boosted 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 buying an additional 240,380 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of United Microelectronics by 114.4% during the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock worth $3,849,000 after acquiring an additional 234,606 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.