United Microelectronics (NYSE:UMC) Coverage Initiated by Analysts at Loop Capital

Loop Capital began coverage on shares of United Microelectronics (NYSE:UMCGet Rating) in a report published on Monday morning, The Fly reports. The brokerage issued a hold rating on the semiconductor company’s stock.

A number of other research firms have also commented on UMC. StockNews.com lowered United Microelectronics from a strong-buy rating to a buy rating in a research note on Tuesday, January 17th. Bank of America began coverage on United Microelectronics in a research note on Monday, January 9th. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold.

United Microelectronics Stock Performance

Shares of UMC stock opened at $7.98 on Monday. The business’s 50-day moving average price is $7.18 and its 200-day moving average price is $6.69. United Microelectronics has a 12 month low of $5.36 and a 12 month high of $10.94. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 4.19 and a beta of 1.22. The company has a current ratio of 2.47, a quick ratio of 2.19 and a debt-to-equity ratio of 0.15.

United Microelectronics (NYSE:UMCGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The semiconductor company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. United Microelectronics had a return on equity of 28.08% and a net margin of 31.24%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.56 billion. Equities research analysts forecast that United Microelectronics will post 0.76 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC increased its holdings in shares of United Microelectronics by 14.2% during the third quarter. Evergreen Capital Management LLC now owns 11,829 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 1,471 shares in the last quarter. FMR LLC increased its holdings in shares of United Microelectronics by 4.7% during the second quarter. FMR LLC now owns 33,777 shares of the semiconductor company’s stock valued at $229,000 after acquiring an additional 1,513 shares in the last quarter. CWM LLC increased its holdings in shares of United Microelectronics by 19.5% during the second quarter. CWM LLC now owns 9,920 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 1,619 shares in the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of United Microelectronics by 4.9% during the third quarter. Desjardins Global Asset Management Inc. now owns 40,874 shares of the semiconductor company’s stock valued at $228,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its holdings in shares of United Microelectronics by 7.2% during the second quarter. Foster Victor Wealth Advisors LLC now owns 29,768 shares of the semiconductor company’s stock valued at $189,000 after acquiring an additional 1,999 shares in the last quarter. 5.35% of the stock is currently owned by institutional investors.

About United Microelectronics

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United Microelectronics Corp. is engaged in the semiconductor foundry business, which offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors.

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