United Microelectronics (NYSE:UMC) Raised to “Buy” at Citigroup

Citigroup upgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat.com reports.

Several other brokerages have also recently issued reports on UMC. The Goldman Sachs Group cut United Microelectronics from a buy rating to a neutral rating and set a $8.90 price objective on the stock. in a research note on Tuesday, January 16th. HSBC upgraded United Microelectronics from a reduce rating to a hold rating in a report on Thursday, January 25th.

United Microelectronics Stock Up 0.3 %

Shares of NYSE:UMC opened at $7.78 on Wednesday. United Microelectronics has a 52-week low of $6.71 and a 52-week high of $8.97. The stock has a market cap of $19.46 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21. The business’s 50 day moving average is $7.93 and its 200 day moving average is $7.84. The company has a quick ratio of 1.83, a current ratio of 2.19 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.82% and a net margin of 24.79%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sell-side analysts predict that United Microelectronics will post 0.6 EPS for the current year.

Institutional Trading of United Microelectronics

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of United Microelectronics by 16.5% during the 3rd quarter. Rhumbline Advisers now owns 889,156 shares of the semiconductor company’s stock valued at $6,277,000 after purchasing an additional 125,903 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of United Microelectronics by 46.4% during the 3rd quarter. NewEdge Wealth LLC now owns 259,465 shares of the semiconductor company’s stock valued at $1,832,000 after purchasing an additional 82,245 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of United Microelectronics during the 4th quarter valued at $109,000. Signaturefd LLC lifted its holdings in shares of United Microelectronics by 4.4% during the 3rd quarter. Signaturefd LLC now owns 218,484 shares of the semiconductor company’s stock valued at $1,542,000 after purchasing an additional 9,134 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of United Microelectronics during the 4th quarter valued at $464,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.