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

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

A number of brokerages have recently weighed in on UMC. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group lowered 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. Finally, JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th.

United Microelectronics Trading Up 0.2 %

NYSE UMC opened at $6.53 on Thursday. 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 stock has a market cap of $16.36 billion, a P/E ratio of 10.05, a PEG ratio of 3.09 and a beta of 1.17. United Microelectronics has a 52 week low of $6.31 and a 52 week high of $9.00. The company’s fifty day simple moving average is $7.02 and its 200-day simple moving average is $7.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UMC. Assetmark Inc. bought a new stake in United Microelectronics during the 3rd quarter valued at approximately $37,000. GAMMA Investing LLC lifted its holdings in shares of United Microelectronics by 90.7% during the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of United Microelectronics in the third quarter worth $84,000. MML Investors Services LLC bought a new position in United Microelectronics during the third quarter worth $86,000. Finally, Synovus Financial Corp bought a new stake in United Microelectronics in the 3rd quarter valued at $89,000. 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.