United Microelectronics (NYSE:UMC) Downgraded by JPMorgan Chase & Co. to Neutral

United Microelectronics (NYSE:UMC) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley downgraded United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday. 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Trading Down 4.0 %

Shares of NYSE:UMC traded down $0.30 during trading on Wednesday, reaching $7.11. The stock had a trading volume of 7,646,509 shares, compared to its average volume of 10,008,567. United Microelectronics has a 52 week low of $7.02 and a 52 week high of $9.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66. The firm’s fifty day moving average is $8.31 and its 200 day moving average is $8.28. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 4.12 and a beta of 1.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UMC. Vanguard Group Inc. increased its holdings in shares of United Microelectronics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after buying an additional 434,018 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of United Microelectronics by 5.4% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,397 shares of the semiconductor company’s stock valued at $489,000 after purchasing an additional 3,071 shares during the period. SpiderRock Advisors LLC acquired a new stake in United Microelectronics during the 1st quarter worth approximately $86,000. Mirae Asset Global Investments Co. Ltd. boosted its position in United Microelectronics by 35.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 9,071 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of United Microelectronics in the 1st quarter valued at approximately $151,000. Hedge funds and other institutional investors 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.