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

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

UMC has been the topic of a number of other research reports. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note 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 price target on the stock. in a report on Thursday, October 17th. StockNews.com lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. Finally, JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Down 3.9 %

Shares of UMC traded down $0.25 on Tuesday, reaching $6.04. The stock had a trading volume of 13,921,986 shares, compared to its average volume of 10,407,397. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 3.06 and a beta of 1.17. The company has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $7.60. 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 earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. United Microelectronics had a net margin of 22.89% and a return on equity of 14.35%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.30 earnings per share. Sell-side analysts predict that United Microelectronics will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UMC. Marshall Wace LLP raised its stake in shares of 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. Two Sigma Advisers LP grew its stake in United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock worth $10,774,000 after acquiring an additional 970,600 shares during the period. Genesis Investment Management LLP raised its stake in United Microelectronics by 12.2% during the third quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock worth $36,655,000 after purchasing an additional 474,004 shares during the period. Barclays PLC increased its position in United Microelectronics by 8.1% during the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock worth $26,995,000 after purchasing an additional 240,380 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of United Microelectronics in the third quarter valued at $1,915,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

About United Microelectronics

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.