United Microelectronics (NYSE:UMC) Sets New 12-Month High – Here’s Why

Shares of United Microelectronics Corporation (NYSE:UMC) reached a new 52-week high during trading on Monday . The stock traded as high as $12.68 and last traded at $12.5650, with a volume of 10816615 shares changing hands. The stock had previously closed at $11.66.

Analyst Ratings Changes

A number of analysts have recently weighed in on UMC shares. BNP Paribas Exane raised shares of United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price target for the company in a report on Tuesday, March 31st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of United Microelectronics in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $8.60.

United Microelectronics Stock Up 3.1%

The firm has a 50 day moving average of $9.82 and a two-hundred day moving average of $8.81. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 6.71 and a beta of 1.16. The company has a quick ratio of 1.91, a current ratio of 2.34 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.93 billion. United Microelectronics had a return on equity of 11.45% and a net margin of 17.60%.The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that United Microelectronics Corporation will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors have recently added to or reduced their stakes in UMC. Summit Global Investments acquired a new position in shares of United Microelectronics during the third quarter worth $1,097,000. North of South Capital LLP acquired a new stake in shares of United Microelectronics during the 3rd quarter valued at $948,000. Moran Wealth Management LLC grew its position in United Microelectronics by 13.8% during the 4th quarter. Moran Wealth Management LLC now owns 792,367 shares of the semiconductor company’s stock worth $6,228,000 after acquiring an additional 95,871 shares during the last quarter. US Bancorp DE grew its position in United Microelectronics by 102.7% during the 3rd quarter. US Bancorp DE now owns 541,044 shares of the semiconductor company’s stock worth $4,101,000 after acquiring an additional 274,157 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in United Microelectronics by 2,855.8% in the 3rd quarter. Quantbot Technologies LP now owns 235,604 shares of the semiconductor company’s stock worth $1,786,000 after purchasing an additional 227,633 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.