United Microelectronics (NYSE:UMC) Shares Gap Down – Time to Sell?

United Microelectronics Co. (NYSE:UMC) shares gapped down prior to trading on Monday . The stock had previously closed at $6.79, but opened at $6.62. United Microelectronics shares last traded at $6.66, with a volume of 979,409 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, United Microelectronics currently has a consensus rating of “Hold” and a consensus price target of $7.40.

United Microelectronics Trading Up 1.9 %

The business’s 50 day moving average price is $6.29 and its 200-day moving average price is $7.02. The company has a current ratio of 2.19, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 4.44 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last posted its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $5.30 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in United Microelectronics in the 3rd quarter worth about $37,000. Savant Capital LLC acquired a new stake in United Microelectronics in the 4th quarter worth about $66,000. Verdence Capital Advisors LLC acquired a new stake in United Microelectronics in the 4th quarter worth about $69,000. Callan Family Office LLC acquired a new stake in United Microelectronics in the 4th quarter worth about $70,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of United Microelectronics in the 4th quarter valued at approximately $73,000. 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.