United Microelectronics (NYSE:UMC) Reaches New 12-Month Low – Should You Sell?

United Microelectronics Co. (NYSE:UMC) shares reached a new 52-week low on Friday . The company traded as low as $6.78 and last traded at $6.78, with a volume of 8136290 shares. The stock had previously closed at $6.88.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UMC shares. StockNews.com lowered United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday. JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, United Microelectronics has an average rating of “Hold” and a consensus target price of $7.40.

United Microelectronics Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 3.28 and a beta of 1.20. The business has a 50-day moving average price of $7.90 and a 200 day moving average price of $8.21.

Hedge Funds Weigh In On United Microelectronics

A number of institutional investors have recently bought and sold shares of UMC. Acadian Asset Management LLC boosted its holdings 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 worth $1,659,000 after buying an additional 188,133 shares during the period. Blue Trust Inc. boosted its stake in United Microelectronics by 136.1% in the 3rd quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company’s stock worth $1,592,000 after purchasing an additional 104,797 shares during the period. Diversified Trust Co purchased a new position in United Microelectronics during the 2nd quarter worth approximately $113,000. Mirae Asset Global Investments Co. Ltd. raised its stake in United Microelectronics by 35.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 9,071 shares during the period. Finally, Genesis Investment Management LLP raised its stake 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 period. 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, 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.