United Microelectronics (NYSE:UMC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of United Microelectronics (NYSE:UMC) from a hold rating to a buy rating in a report published on Saturday.

Other research analysts also recently issued reports about the company. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut shares of United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Performance

UMC stock opened at $6.99 on Friday. The stock’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $8.24. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13. United Microelectronics has a 12-month low of $6.78 and a 12-month high of $9.00. The stock has a market capitalization of $17.52 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 3.47 and a beta of 1.20.

Institutional Investors Weigh In On United Microelectronics

A number of large investors have recently made changes to their positions in the company. Assetmark Inc. purchased a new position in shares of United Microelectronics in the third quarter worth approximately $37,000. GAMMA Investing LLC raised its position in United Microelectronics by 90.7% in the third 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 position in shares of United Microelectronics during the 3rd quarter worth $84,000. Aprio Wealth Management LLC bought a new stake in shares of United Microelectronics during the 2nd quarter valued at $95,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of United Microelectronics in the 2nd quarter worth $103,000. 5.05% of the stock is currently owned by institutional investors.

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.