United Microelectronics (NYSE:UMC) Stock Price Up 4.7% – Here’s Why

by · The Markets Daily

United Microelectronics Corporation (NYSE:UMC – Get Free Report)’s share price shot up 4.7% during trading on Tuesday. The stock traded as high as $24.99 and last traded at $24.9790. 4,464,137 shares were traded during mid-day trading, a decline of 67% from the average session volume of 13,394,752 shares. The stock had previously closed at $23.85.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UMC shares. Weiss Ratings upgraded shares of United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Zacks Research lowered United Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Friday. Arete Research upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, United Microelectronics presently has an average rating of “Reduce” and a consensus price target of $8.60.

Read Our Latest Research Report on UMC

United Microelectronics Price Performance

The firm has a market cap of $62.55 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 0.57 and a beta of 1.59. 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’s fifty day moving average price is $20.60 and its 200-day moving average price is $18.22.

United Microelectronics (NYSE:UMC – Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The firm had revenue of $2.16 billion during the quarter. As a group, equities research analysts forecast that United Microelectronics Corporation will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

A number of large investors have recently made changes to their positions in the company. Continuum Advisory LLC acquired a new position in United Microelectronics during the 2nd quarter worth approximately $28,000. CoreCap Advisors LLC lifted its position in shares of United Microelectronics by 271.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of United Microelectronics during the second quarter worth $41,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of United Microelectronics during the second quarter worth $76,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in United Microelectronics by 1,782.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,956 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 11,321 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Company Profile

(Get Free Report)

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.

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