Daiwa Capital Markets Lowers United Microelectronics Corporation (UMC) to Underperform

United Microelectronics Corporation (NYSE:UMC) was downgraded by research analysts at Daiwa Capital Markets from a “hold” rating to an “underperform” rating in a report issued on Wednesday, The Fly reports.

Other research analysts also recently issued research reports about the company. HSBC Holdings plc raised United Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. BidaskClub raised United Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. UBS AG raised United Microelectronics Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 28th. Instinet downgraded United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a research note on Monday, July 3rd. Finally, Nomura downgraded United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a research note on Friday, June 30th. Eight equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Sell” and a consensus target price of $2.10.

United Microelectronics Corporation (NYSE:UMC) opened at 2.29 on Wednesday. The firm’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.02. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 16.96 and a beta of 0.61. United Microelectronics Corporation has a 12-month low of $1.74 and a 12-month high of $2.57.

United Microelectronics Corporation (NYSE:UMC) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. United Microelectronics Corporation had a return on equity of 4.79% and a net margin of 6.87%. The firm had revenue of $37.54 billion for the quarter, compared to the consensus estimate of $37.15 billion. During the same quarter last year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts predict that United Microelectronics Corporation will post $0.11 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Daiwa Capital Markets Lowers United Microelectronics Corporation (UMC) to Underperform” was posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.themarketsdaily.com/2017/07/28/daiwa-capital-markets-lowers-united-microelectronics-corporation-umc-to-underperform.html.

A number of institutional investors have recently added to or reduced their stakes in the stock. Karp Capital Management Corp purchased a new position in United Microelectronics Corporation during the first quarter valued at $17,735,000. Morgan Stanley boosted its position in United Microelectronics Corporation by 9,690.5% in the first quarter. Morgan Stanley now owns 6,128,440 shares of the semiconductor company’s stock valued at $11,827,000 after buying an additional 6,065,844 shares in the last quarter. Acadian Asset Management LLC boosted its position in United Microelectronics Corporation by 25.0% in the second quarter. Acadian Asset Management LLC now owns 19,572,156 shares of the semiconductor company’s stock valued at $47,757,000 after buying an additional 3,909,952 shares in the last quarter. JPMorgan Chase & Co. boosted its position in United Microelectronics Corporation by 778.8% in the first quarter. JPMorgan Chase & Co. now owns 3,651,852 shares of the semiconductor company’s stock valued at $7,048,000 after buying an additional 3,236,297 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in United Microelectronics Corporation by 22.4% in the first quarter. Renaissance Technologies LLC now owns 12,087,589 shares of the semiconductor company’s stock valued at $23,329,000 after buying an additional 2,215,200 shares in the last quarter. Institutional investors and hedge funds own 6.32% of the company’s stock.

About United Microelectronics Corporation

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.

The Fly

Analyst Recommendations for United Microelectronics Corporation (NYSE:UMC)

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

Leave a Reply

Your email address will not be published. Required fields are marked *

*

five + 10 =