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

United Microelectronics (NYSE:UMC) was downgraded by analysts at Citigroup from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports.

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

United Microelectronics Stock Performance

Shares of UMC stock traded down $0.25 during mid-day trading on Tuesday, hitting $6.04. 13,921,986 shares of the stock were exchanged, compared to its average volume of 10,407,397. The stock’s fifty day simple moving average is $6.61 and its two-hundred day simple moving average is $7.60. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 3.06 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics has a 12-month low of $5.88 and a 12-month high of $9.00.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data 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). United Microelectronics had a net margin of 22.89% and a return on equity of 14.35%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm posted $5.30 EPS. United Microelectronics’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts forecast that United Microelectronics will post 0.63 EPS for the current year.

Hedge Funds Weigh In On United Microelectronics

A number of large investors have recently bought and sold shares of UMC. Marshall Wace LLP lifted its stake in United Microelectronics by 682.1% during the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after purchasing an additional 4,577,177 shares during the last quarter. Genesis Investment Management LLP lifted its stake in United Microelectronics by 12.2% in the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after buying an additional 474,004 shares during the period. State Street Corp boosted its holdings in United Microelectronics by 1.5% in the third quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock worth $30,831,000 after acquiring an additional 53,105 shares in the last quarter. Barclays PLC lifted its position in United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after acquiring an additional 240,380 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of United Microelectronics by 314.1% during the third quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after purchasing an additional 970,600 shares in the last quarter. 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.