Goldman Sachs Group Initiates Coverage on United Microelectronics (UMC)

Share on StockTwits

Goldman Sachs Group began coverage on shares of United Microelectronics (NYSE:UMC) in a report issued on Tuesday, The Fly reports. The firm set a “sell” rating on the semiconductor company’s stock.

Several other research analysts have also commented on the company. HSBC lowered United Microelectronics from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. JPMorgan Chase & Co. raised United Microelectronics from an “underweight” rating to a “neutral” rating in a report on Wednesday, April 24th. Finally, Credit Suisse Group raised United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.19.

UMC stock opened at $2.18 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.82 and a debt-to-equity ratio of 0.33. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 31.71 and a beta of 0.87. United Microelectronics has a twelve month low of $1.64 and a twelve month high of $3.14.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. United Microelectronics had a return on equity of 2.31% and a net margin of 3.33%. The business had revenue of $32.58 billion during the quarter, compared to analyst estimates of $32.76 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was down 13.1% compared to the same quarter last year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP grew its holdings in shares of United Microelectronics by 10.7% during the fourth quarter. Two Sigma Advisers LP now owns 749,730 shares of the semiconductor company’s stock worth $1,342,000 after purchasing an additional 72,200 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of United Microelectronics by 99.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 412,510 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 205,600 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of United Microelectronics by 8.0% during the fourth quarter. Wetherby Asset Management Inc. now owns 225,397 shares of the semiconductor company’s stock worth $403,000 after purchasing an additional 16,673 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of United Microelectronics by 900.0% during the third quarter. Macquarie Group Ltd. now owns 100,000 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in United Microelectronics by 2,219.2% in the 4th quarter. Quadrant Capital Group LLC now owns 171,553 shares of the semiconductor company’s stock worth $304,000 after buying an additional 164,156 shares during the last quarter. 5.19% of the stock is owned by institutional investors.

About United Microelectronics

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

Recommended Story: Special Dividends

The Fly

Analyst Recommendations for United Microelectronics (NYSE:UMC)

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.