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

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

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

United Microelectronics Price Performance

United Microelectronics stock opened at $5.85 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. United Microelectronics has a 52-week low of $5.67 and a 52-week high of $9.00. The stock’s 50 day moving average price is $6.56 and its two-hundred day moving average price is $7.57. The stock has a market capitalization 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 (NYSE:UMC) last issued its earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $5.30 earnings per share. United Microelectronics’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that United Microelectronics will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On United Microelectronics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its stake in United Microelectronics by 682.1% in the 2nd quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock valued at $45,974,000 after purchasing an additional 4,577,177 shares during the period. Genesis Investment Management LLP grew its stake in United Microelectronics by 12.2% in 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. State Street Corp grew its stake in United Microelectronics by 1.5% in the 3rd quarter. State Street Corp now owns 3,661,624 shares of the semiconductor company’s stock valued at $30,831,000 after purchasing an additional 53,105 shares during the period. Barclays PLC grew its stake in United Microelectronics by 8.1% in the 3rd quarter. Barclays PLC now owns 3,205,930 shares of the semiconductor company’s stock valued at $26,995,000 after purchasing an additional 240,380 shares during the period. Finally, Two Sigma Advisers LP grew its stake in United Microelectronics by 314.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,279,600 shares of the semiconductor company’s stock valued at $10,774,000 after purchasing an additional 970,600 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.