United Microelectronics (NYSE:UMC) Lowered to “Sell” Rating by Citigroup

Citigroup cut shares of United Microelectronics (NYSE:UMC) from a buy rating to a sell rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports.

A number of other brokerages also recently issued reports on UMC. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. Finally, StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Price Performance

NYSE UMC opened at $6.03 on Tuesday. United Microelectronics has a one year low of $5.88 and a one year high of $9.00. The stock has a 50-day moving average of $6.61 and a 200 day moving average of $7.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 3.06 and a beta of 1.17.

United Microelectronics (NYSE:UMC) last announced its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a net margin of 22.89% and a return on equity of 14.35%. United Microelectronics’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.30 earnings per share. On average, sell-side analysts forecast that United Microelectronics will post 0.63 EPS for the current year.

Institutional Trading of United Microelectronics

Several institutional investors have recently made changes to their positions in the business. Ignite Planners LLC boosted its stake in United Microelectronics by 8.2% in the 4th quarter. Ignite Planners LLC now owns 97,709 shares of the semiconductor company’s stock worth $642,000 after purchasing an additional 7,406 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of United Microelectronics by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 806,000 shares of the semiconductor company’s stock worth $6,787,000 after buying an additional 53,264 shares in the last quarter. DGS Capital Management LLC grew its stake in United Microelectronics by 2.7% during the third quarter. DGS Capital Management LLC now owns 104,271 shares of the semiconductor company’s stock valued at $878,000 after acquiring an additional 2,712 shares in the last quarter. Synovus Financial Corp bought a new stake in United Microelectronics in the 3rd quarter valued at $89,000. Finally, Tidal Investments LLC increased its holdings in United Microelectronics by 110.6% in the 3rd quarter. Tidal Investments LLC now owns 115,287 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 60,533 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.