United Microelectronics (NYSE:UMC) Issues Earnings Results

United Microelectronics (NYSE:UMC) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03), Zacks reports. 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 during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $5.30 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis.

United Microelectronics Stock Down 5.1 %

Shares of NYSE:UMC opened at $5.73 on Thursday. 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 $5.70 and a 52-week high of $9.00. The business’s 50 day simple moving average is $6.59 and its two-hundred day simple moving average is $7.59. The firm has a market cap of $14.35 billion, a P/E ratio of 9.87, a PEG ratio of 3.31 and a beta of 1.17.

Analyst Upgrades and Downgrades

UMC has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com cut United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target on the stock. in a research note on Thursday, October 17th. Finally, Citigroup downgraded shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.40.

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.