The Goldman Sachs Group Upgrades United Microelectronics (NYSE:UMC) to Buy

United Microelectronics (NYSE:UMC) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat reports.

Several other equities research analysts have also issued reports on UMC. StockNews.com upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 24th.

United Microelectronics Trading Up 12.8 %

NYSE UMC opened at $8.38 on Thursday. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.45 and a beta of 1.18. The business’s fifty day moving average is $8.41 and its 200-day moving average is $8.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.32 and a quick ratio of 1.93. United Microelectronics has a one year low of $6.71 and a one year high of $9.00.

Institutional Investors Weigh In On United Microelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in UMC. GAMMA Investing LLC purchased a new stake in United Microelectronics in the fourth quarter valued at approximately $27,000. Optas LLC bought a new stake in United Microelectronics during the fourth quarter worth about $89,000. SpiderRock Advisors LLC bought a new position in shares of United Microelectronics during the 1st quarter valued at about $86,000. Aprio Wealth Management LLC purchased a new position in shares of United Microelectronics during the 2nd quarter valued at about $95,000. Finally, Adero Partners LLC bought a new stake in United Microelectronics in the 4th quarter worth approximately $94,000. 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, Singapore, China, Hong Kong, Japan, 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.