United Microelectronics (NYSE:UMC) Rating Lowered to “Hold” at StockNews.com

United Microelectronics (NYSE:UMC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also recently issued reports on the company. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research note on Thursday, October 17th. Morgan Stanley lowered United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, United Microelectronics currently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Trading Down 1.5 %

NYSE UMC opened at $6.78 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66. The company has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $8.21. United Microelectronics has a one year low of $6.78 and a one year high of $9.00. The firm has a market capitalization of $16.99 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 3.35 and a beta of 1.20.

Institutional Trading of United Microelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of United Microelectronics by 35.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 9,071 shares during the last quarter. SG Americas Securities LLC bought a new position in United Microelectronics in the first quarter worth $151,000. US Bancorp DE lifted its holdings in shares of United Microelectronics by 2.2% during the 1st quarter. US Bancorp DE now owns 127,275 shares of the semiconductor company’s stock worth $1,030,000 after acquiring an additional 2,772 shares during the period. Acadian Asset Management LLC boosted its stake in United Microelectronics by 1,105.0% in the 1st quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock valued at $1,659,000 after buying an additional 188,133 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of United Microelectronics by 4.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 353,626 shares of the semiconductor company’s stock worth $2,861,000 after purchasing an additional 13,508 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, 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.