United Microelectronics (NYSE:UMC) Cut to “Sell” at Citigroup

Citigroup cut shares of United Microelectronics (NYSE:UMC) from a buy rating to a sell rating in a research note issued to investors on Tuesday morning, MarketBeat reports.

Other analysts have also recently issued reports about the company. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Morgan Stanley cut United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. The Goldman Sachs Group cut 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. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Stock Up 2.2 %

Shares of NYSE UMC opened at $5.85 on Tuesday. 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 $14.65 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 3.31 and a beta of 1.17. United Microelectronics has a 12 month low of $5.67 and a 12 month high of $9.00. The stock has a 50-day moving average price of $6.56 and a two-hundred day moving average price of $7.57.

United Microelectronics (NYSE:UMC) last issued its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.30 EPS. As a group, analysts forecast that United Microelectronics will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of United Microelectronics

Several institutional investors have recently added to or reduced their stakes in UMC. Assetmark Inc. bought a new stake in United Microelectronics in the third quarter valued at approximately $37,000. GAMMA Investing LLC boosted its holdings in United Microelectronics by 90.7% in the third quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new stake in United Microelectronics in the third quarter valued at approximately $84,000. MML Investors Services LLC bought a new stake in United Microelectronics in the third quarter valued at approximately $86,000. Finally, Synovus Financial Corp bought a new stake in United Microelectronics in the third quarter valued at approximately $89,000. 5.05% of the stock is currently owned by institutional investors.

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.