United Microelectronics Co. (NYSE:UMC) Receives $7.40 Average Target Price from Brokerages

United Microelectronics Co. (NYSE:UMC) has received a consensus rating of “Hold” from the five analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.40.

A number of equities research analysts have recently issued reports on UMC shares. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research report on Thursday, October 17th. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th.

United Microelectronics Price Performance

UMC stock opened at $6.34 on Monday. The firm has a 50 day moving average of $6.66 and a 200-day moving average of $7.66. United Microelectronics has a 12-month low of $6.09 and a 12-month high of $9.00. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.09 and a beta of 1.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UMC. Commonwealth Equity Services LLC increased its stake in shares of United Microelectronics by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock worth $626,000 after purchasing an additional 1,756 shares in the last quarter. Victory Capital Management Inc. grew its stake in United Microelectronics by 25.6% in the 2nd quarter. Victory Capital Management Inc. now owns 76,255 shares of the semiconductor company’s stock worth $668,000 after acquiring an additional 15,539 shares during the period. Choreo LLC purchased a new stake in United Microelectronics in the 2nd quarter worth approximately $106,000. Johnson Investment Counsel Inc. grew its stake in United Microelectronics by 3.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 57,700 shares of the semiconductor company’s stock worth $505,000 after acquiring an additional 1,865 shares during the period. Finally, Parallel Advisors LLC grew its stake in United Microelectronics by 3.7% in the 2nd quarter. Parallel Advisors LLC now owns 113,331 shares of the semiconductor company’s stock worth $993,000 after acquiring an additional 4,016 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

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.