United Microelectronics (NYSE:UMC) Shares Gap Down – Should You Sell?
by Renee Jackson · The Cerbat GemUnited Microelectronics Corporation (NYSE:UMC – Get Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $12.64, but opened at $12.18. United Microelectronics shares last traded at $12.3450, with a volume of 2,133,654 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on UMC shares. BNP Paribas Exane raised United Microelectronics from an “underperform” rating to a “neutral” rating and set a $8.60 price target on the stock in a report on Tuesday, March 31st. JPMorgan Chase & Co. restated an “underweight” rating on shares of United Microelectronics in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $8.60.
Get Our Latest Analysis on UMC
United Microelectronics Price Performance
The stock has a market capitalization of $31.94 billion, a PE ratio of 23.55, a P/E/G ratio of 6.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.34 and a quick ratio of 1.91. The firm’s 50 day simple moving average is $9.87 and its 200 day simple moving average is $8.84.
United Microelectronics (NYSE:UMC – Get Free Report) last released its earnings results on Wednesday, January 28th. The semiconductor company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.93 billion. United Microelectronics had a net margin of 17.60% and a return on equity of 11.45%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities analysts forecast that United Microelectronics Corporation will post 0.52 EPS for the current fiscal year.
Institutional Investors Weigh In On United Microelectronics
Several institutional investors have recently bought and sold shares of the stock. Aaron Wealth Advisors LLC purchased a new position in United Microelectronics in the 1st quarter worth approximately $323,000. RFG Advisory LLC bought a new position in shares of United Microelectronics in the first quarter worth approximately $496,000. SG Americas Securities LLC purchased a new position in shares of United Microelectronics in the first quarter worth $898,000. Corient Private Wealth LLC raised its holdings in United Microelectronics by 8.4% during the 4th quarter. Corient Private Wealth LLC now owns 146,966 shares of the semiconductor company’s stock valued at $1,155,000 after buying an additional 11,440 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in United Microelectronics by 1,782.8% during the 4th 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
United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.
UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.