United Microelectronics Corporation (UMC) Receives Average Recommendation of “Hold” from Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have earned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.10.

A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of United Microelectronics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Citigroup Inc. downgraded shares of United Microelectronics Corporation from a “neutral” rating to a “sell” rating in a research report on Wednesday, July 26th. Daiwa Capital Markets downgraded shares of United Microelectronics Corporation from a “hold” rating to an “underperform” rating in a research report on Wednesday, July 26th. HSBC Holdings plc downgraded shares of United Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Sanford C. Bernstein downgraded shares of United Microelectronics Corporation from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $1.90 to $2.10 in a research report on Thursday, July 27th.

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Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of United Microelectronics Corporation by 2.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 173,831 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 4,165 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in shares of United Microelectronics Corporation by 2.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 179,220 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 4,358 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of United Microelectronics Corporation by 5.0% in the 2nd quarter. Parallel Advisors LLC now owns 149,811 shares of the semiconductor company’s stock valued at $339,000 after acquiring an additional 7,133 shares in the last quarter. Profund Advisors LLC increased its stake in shares of United Microelectronics Corporation by 10.5% in the 2nd quarter. Profund Advisors LLC now owns 110,960 shares of the semiconductor company’s stock valued at $271,000 after acquiring an additional 10,544 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of United Microelectronics Corporation by 37.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 93,648 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 25,761 shares in the last quarter. Institutional investors own 5.35% of the company’s stock.

United Microelectronics Corporation Company Profile

United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.

Analyst Recommendations for United Microelectronics Corporation (NYSE:UMC)

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