United Microelectronics Co. (NYSE:UMC) Receives Consensus Rating of “Buy” from Analysts

Shares of United Microelectronics Co. (NYSE:UMCGet Rating) have received an average recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.28.

A number of brokerages have issued reports on UMC. Nomura lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating in a report on Tuesday, January 25th. StockNews.com upgraded United Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research upgraded United Microelectronics from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research report on Saturday, April 30th.

United Microelectronics stock opened at $8.55 on Monday. The firm has a 50 day moving average of $8.55 and a 200 day moving average of $9.94. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 8.91 and a beta of 1.04. United Microelectronics has a 12-month low of $7.49 and a 12-month high of $12.68. The company has a current ratio of 2.15, a quick ratio of 1.94 and a debt-to-equity ratio of 0.15.

United Microelectronics (NYSE:UMCGet Rating) last released its earnings results on Wednesday, April 27th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. United Microelectronics had a net margin of 28.39% and a return on equity of 25.47%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. On average, analysts predict that United Microelectronics will post 1.26 EPS for the current year.

Several large investors have recently added to or reduced their stakes in UMC. FMR LLC lifted its position in shares of United Microelectronics by 256,831,800.0% during the first 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 during the last quarter. Morgan Stanley increased its stake in shares of United Microelectronics by 48.9% during the second quarter. Morgan Stanley now owns 2,062,047 shares of the semiconductor company’s stock valued at $19,486,000 after buying an additional 676,871 shares during the period. Raymond James & Associates increased its stake in shares of United Microelectronics by 20.5% during the third quarter. Raymond James & Associates now owns 54,773 shares of the semiconductor company’s stock valued at $626,000 after buying an additional 9,323 shares during the period. BlackRock Inc. increased its stake in shares of United Microelectronics by 19.3% during the third quarter. BlackRock Inc. now owns 14,947,579 shares of the semiconductor company’s stock valued at $170,849,000 after buying an additional 2,418,867 shares during the period. Finally, Barclays PLC increased its stake in shares of United Microelectronics by 94.7% during the third quarter. Barclays PLC now owns 255,582 shares of the semiconductor company’s stock valued at $2,921,000 after buying an additional 124,315 shares during the period. Institutional investors and hedge funds own 4.72% of the company’s stock.

About United Microelectronics (Get Rating)

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.

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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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