Citigroup upgraded shares of United Microelectronics (NYSE:UMC – Free Report) from a neutral rating to a buy rating in a report issued on Wednesday, Marketbeat Ratings reports.
Several other research firms have also weighed in on UMC. HSBC raised United Microelectronics from a reduce rating to a hold rating in a research note on Thursday, January 25th. The Goldman Sachs Group lowered United Microelectronics from a buy rating to a neutral rating and set a $8.90 price objective for the company. in a research note on Tuesday, January 16th.
Read Our Latest Stock Analysis on UMC
United Microelectronics Stock Performance
United Microelectronics (NYSE:UMC – Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. During the same period last year, the company posted $0.25 EPS. Research analysts forecast that United Microelectronics will post 0.63 EPS for the current fiscal year.
Institutional Trading of United Microelectronics
A number of hedge funds have recently modified their holdings of the business. Schechter Investment Advisors LLC lifted its holdings in shares of United Microelectronics by 5.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 1,452 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of United Microelectronics by 19.8% in the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,514 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of United Microelectronics by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock valued at $518,000 after purchasing an additional 1,671 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of United Microelectronics by 19.6% during the third quarter. Inspire Advisors LLC now owns 13,393 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of United Microelectronics by 2.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 100,839 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 2,246 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.
United Microelectronics Company Profile
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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