United Microelectronics (NYSE:UMC) Trading Down 3% – What’s Next?

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

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Performance

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

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned $0.20 earnings per share. As a group, sell-side analysts anticipate that United Microelectronics Co. will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in United Microelectronics by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock worth $134,250,000 after purchasing an additional 434,018 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in United Microelectronics by 3.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 76,057 shares of the semiconductor company’s stock valued at $643,000 after acquiring an additional 2,754 shares in the last quarter. Ballentine Partners LLC raised its holdings in United Microelectronics by 20.8% in the 1st quarter. Ballentine Partners LLC now owns 113,245 shares of the semiconductor company’s stock valued at $916,000 after acquiring an additional 19,479 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in United Microelectronics by 24.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 201,630 shares of the semiconductor company’s stock worth $1,631,000 after purchasing an additional 39,698 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its holdings in shares of United Microelectronics by 5.4% during the 1st quarter. SeaCrest Wealth Management LLC now owns 60,397 shares of the semiconductor company’s stock worth $489,000 after purchasing an additional 3,071 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.