United Microelectronics (NYSE:UMC) Shares Down 3% – Should You Sell?

United Microelectronics Co. (NYSE:UMC) traded down 3% during trading on Friday . The stock traded as low as $7.75 and last traded at $7.76. 1,756,010 shares were traded during mid-day trading, a decline of 82% from the average session volume of 9,941,563 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group downgraded shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a research report on Thursday.

United Microelectronics Stock Down 3.0 %

The firm has a market capitalization of $19.45 billion, a PE ratio of 11.43, a P/E/G ratio of 4.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The company has a 50-day moving average price of $8.48 and a 200 day moving average price of $8.30.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $0.20 EPS. Analysts forecast that United Microelectronics Co. will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On United Microelectronics

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of United Microelectronics by 2.8% during the 4th 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. Acadian Asset Management LLC raised its stake in shares of United Microelectronics by 1,105.0% in the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company’s stock valued at $1,659,000 after acquiring an additional 188,133 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of United Microelectronics by 35.1% in 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. Diversified Trust Co purchased a new position in shares of United Microelectronics during the 2nd quarter worth about $113,000. Finally, Genesis Investment Management LLP grew its holdings in United Microelectronics by 12.2% during the 3rd quarter. Genesis Investment Management LLP now owns 4,353,325 shares of the semiconductor company’s stock valued at $36,655,000 after purchasing an additional 474,004 shares during the last quarter. 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.