United Microelectronics (NYSE:UMC) Upgraded to “Outperform” at Macquarie

Macquarie upgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to an outperform rating in a report released on Wednesday morning, Briefing.com Automated Import reports.

UMC has been the subject of a number of other research reports. HSBC raised United Microelectronics from a reduce rating to a hold rating in a research note on Wednesday, April 24th. Goldman Sachs Group set a €40.50 ($47.09) price objective on Koninklijke Philips and gave the company a buy rating in a research note on Tuesday, May 7th. Credit Suisse Group raised United Microelectronics from an underperform rating to a neutral rating in a research note on Wednesday, April 24th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Teck Resources from C$56.00 to C$55.00 in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. United Microelectronics presently has a consensus rating of Hold and a consensus price target of $1.78.

NYSE:UMC opened at $2.30 on Wednesday. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 33.29 and a beta of 0.95. United Microelectronics has a fifty-two week low of $1.64 and a fifty-two week high of $2.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.43 and a current ratio of 2.79. The company’s 50 day moving average is $2.11.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $32.58 billion during the quarter, compared to analyst estimates of $32.76 billion. United Microelectronics had a return on equity of 2.31% and a net margin of 3.33%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share.

The firm also recently declared an annual dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, July 16th will be paid a $0.0936 dividend. This represents a yield of 5.45%. The ex-dividend date of this dividend is Monday, July 15th.

A number of hedge funds have recently made changes to their positions in UMC. LMR Partners LLP lifted its stake in United Microelectronics by 195.9% in the fourth quarter. LMR Partners LLP now owns 16,297,975 shares of the semiconductor company’s stock worth $30,010,000 after acquiring an additional 10,789,991 shares during the period. FMR LLC lifted its stake in United Microelectronics by 256,831,800.0% in the first quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock worth $4,828,000 after acquiring an additional 2,568,318 shares during the period. Parametric Portfolio Associates LLC lifted its stake in United Microelectronics by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 7,775,653 shares of the semiconductor company’s stock worth $14,618,000 after acquiring an additional 1,497,157 shares during the period. Hsbc Holdings PLC lifted its stake in United Microelectronics by 400.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,687,500 shares of the semiconductor company’s stock worth $3,021,000 after acquiring an additional 1,350,000 shares during the period. Finally, Northern Trust Corp lifted its stake in United Microelectronics by 76.5% in the fourth quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock worth $4,791,000 after acquiring an additional 1,159,883 shares during the period. 5.32% of the stock is owned by institutional investors.

United Microelectronics Company Profile

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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