United Microelectronics (NYSE:UMC) Hits New 1-Year Low – What’s Next?

Shares of United Microelectronics Co. (NYSE:UMC) hit a new 52-week low during trading on Wednesday . The company traded as low as $6.52 and last traded at $6.58, with a volume of 626591 shares trading hands. The stock had previously closed at $6.56.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Performance

The stock’s 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $8.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76. The stock has a market cap of $16.49 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 3.25 and a beta of 1.17.

Institutional Trading of United Microelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of United Microelectronics in the third quarter worth $37,000. GAMMA Investing LLC increased its stake in United Microelectronics by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,817 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 3,242 shares during the last quarter. Viking Fund Management LLC bought a new stake in United Microelectronics during the 3rd quarter worth about $84,000. MML Investors Services LLC bought a new stake in United Microelectronics during the 3rd quarter worth about $86,000. Finally, Synovus Financial Corp acquired a new position in shares of United Microelectronics during the 3rd quarter worth about $89,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.