StockNews.com Initiates Coverage on United Microelectronics (NYSE:UMC)

StockNews.com started coverage on shares of United Microelectronics (NYSE:UMC – Get Rating) in a report issued on Thursday. The brokerage issued a buy rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on UMC. Bank of America began coverage on United Microelectronics in a report on Monday, January 9th. They issued a buy rating on the stock. Citigroup upgraded United Microelectronics from a neutral rating to a buy rating in a report on Tuesday, February 28th. Finally, Loop Capital began coverage on United Microelectronics in a report on Monday, January 23rd. They issued a hold rating on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy.

United Microelectronics Price Performance

United Microelectronics stock opened at $8.60 on Thursday. The company’s fifty day moving average price is $8.08 and its 200 day moving average price is $7.08. United Microelectronics has a 1 year low of $5.36 and a 1 year high of $9.61. The stock has a market capitalization of $21.47 billion, a P/E ratio of 7.35, a P/E/G ratio of 4.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.19 and a current ratio of 2.47.

United Microelectronics (NYSE:UMC – Get Rating) last released its quarterly earnings results on Monday, January 16th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). United Microelectronics had a net margin of 31.24% and a return on equity of 28.08%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.11 billion. As a group, equities research analysts anticipate that United Microelectronics will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UMC. Guardian Wealth Advisors LLC purchased a new position in shares of United Microelectronics during the 3rd quarter worth $25,000. Kistler Tiffany Companies LLC purchased a new position in shares of United Microelectronics during the 4th quarter worth $25,000. CoreCap Advisors LLC purchased a new stake in United Microelectronics in the 2nd quarter valued at about $28,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in United Microelectronics by 185.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,275 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 2,775 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in United Microelectronics in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 5.35% of the company’s stock.

United Microelectronics Company Profile

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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.