United Microelectronics (NYSE:UMC) Sets New 52-Week Low – Time to Sell?

United Microelectronics Co. (NYSE:UMC)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.02 and last traded at $7.03, with a volume of 15140957 shares traded. The stock had previously closed at $7.41.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research note on Thursday, October 17th. Finally, Morgan Stanley cut shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Stock Down 5.7 %

The stock has a market capitalization of $17.52 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 4.12 and a beta of 1.18. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $8.31 and its 200 day moving average is $8.28.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.80%. During the same period last year, the firm posted $0.20 EPS. As a group, analysts anticipate that United Microelectronics Co. will post 0.66 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of United Microelectronics by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 3,242 shares during the period. Viking Fund Management LLC purchased a new stake in United Microelectronics during the 3rd quarter worth approximately $84,000. SpiderRock Advisors LLC acquired a new position in United Microelectronics during the 1st quarter worth approximately $86,000. Aprio Wealth Management LLC acquired a new position in United Microelectronics during the 2nd quarter worth approximately $95,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of United Microelectronics in the 2nd quarter valued at $103,000. Institutional investors and hedge funds 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.