United Microelectronics (NYSE:UMC) Releases Earnings Results, Misses Estimates By $0.03 EPS

United Microelectronics (NYSE:UMC) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03), Zacks reports. United Microelectronics had a return on equity of 14.35% and a net margin of 22.89%.

United Microelectronics Stock Up 1.0 %

UMC stock opened at $6.27 on Tuesday. The stock has a market capitalization of $15.72 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.06 and a beta of 1.17. United Microelectronics has a 52 week low of $6.09 and a 52 week high of $9.00. The firm has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $7.60. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16.

Analyst Ratings Changes

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

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.