United Microelectronics Corporation (NYSE:UMC) Stock Has Consensus Target Price of $8.60 According to Analysts

United Microelectronics Corporation (NYSE:UMC) has been given an average rating of “Reduce” by the six analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.60.

A number of research analysts have issued reports on UMC shares. Zacks Research lowered United Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Weiss Ratings upgraded shares of United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Wall Street Zen raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Arete Research raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Monday, August 10th.

United Microelectronics Stock Performance

Shares of NYSE UMC opened at $24.50 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $18.44. The company has a market cap of $61.69 billion, a PE ratio of 22.90, a P/E/G ratio of 0.58 and a beta of 1.59. United Microelectronics has a 12-month low of $6.97 and a 12-month high of $28.96.

United Microelectronics (NYSE:UMC) last posted its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. The firm had revenue of $2.16 billion for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%. On average, equities research analysts forecast that United Microelectronics will post 1.23 EPS for the current year.

Institutional Trading of United Microelectronics

A number of institutional investors have recently made changes to their positions in the stock. Matthews International Capital Management LLC acquired a new position in shares of United Microelectronics in the 1st quarter worth approximately $8,779,000. Eurizon Capital SGR S.p.A. acquired a new stake in United Microelectronics during the fourth quarter valued at approximately $3,550,000. Nykredit A S acquired a new stake in United Microelectronics during the second quarter valued at approximately $9,525,000. Dimensional Fund Advisors LP boosted its holdings in United Microelectronics by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,849,737 shares of the semiconductor company’s stock worth $25,591,000 after buying an additional 333,011 shares in the last quarter. Finally, Delta Global Management LP bought a new stake in United Microelectronics during the first quarter worth approximately $1,435,000. 5.05% of the stock is owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corp. (NYSE: UMC) is a Taiwan-based semiconductor foundry that manufactures integrated circuits for other companies. As a pure-play foundry, UMC focuses on producing chips designed by its customers rather than marketing semiconductor products under its own consumer brand.

The company provides wafer fabrication services across a range of established and specialty semiconductor processes. Its offerings support applications including communications, automotive electronics, industrial systems, consumer devices, display products and other embedded technologies.