Credit Suisse Group upgraded shares of United Microelectronics (NYSE:UMC) from an underperform rating to a neutral rating in a research report released on Wednesday morning, Marketbeat reports.
Separately, HSBC raised shares of United Microelectronics from a hold rating to a buy rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $2.10.
United Microelectronics (NYSE:UMC) opened at $2.52 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.31. The firm has a market cap of $6,063.26, a PE ratio of 19.39 and a beta of 0.55. United Microelectronics has a 52 week low of $1.80 and a 52 week high of $2.73.
Several large investors have recently bought and sold shares of UMC. Schwab Charles Investment Management Inc. lifted its stake in shares of United Microelectronics by 20.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,370,891 shares of the semiconductor company’s stock worth $5,785,000 after buying an additional 401,016 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of United Microelectronics in the second quarter worth about $127,000. Wells Fargo & Company MN lifted its stake in shares of United Microelectronics by 4.4% in the second quarter. Wells Fargo & Company MN now owns 2,769,173 shares of the semiconductor company’s stock worth $6,756,000 after buying an additional 115,724 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of United Microelectronics by 10.5% in the second quarter. Profund Advisors LLC now owns 110,960 shares of the semiconductor company’s stock worth $271,000 after buying an additional 10,544 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of United Microelectronics by 3.8% in the second quarter. Vanguard Group Inc. now owns 33,970,238 shares of the semiconductor company’s stock worth $82,887,000 after buying an additional 1,258,346 shares in the last quarter. 5.72% of the stock is currently owned by hedge funds and other institutional investors.
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United Microelectronics 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.
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