United Microelectronics (NYSE:UMC) Shares Gap Down – What’s Next?

United Microelectronics Co. (NYSE:UMC) shares gapped down prior to trading on Monday . The stock had previously closed at $6.79, but opened at $6.62. United Microelectronics shares last traded at $6.66, with a volume of 979,409 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a research report on Tuesday, January 21st. StockNews.com cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, November 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Down 2.1 %

The firm’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $7.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19. The stock has a market capitalization of $16.65 billion, a P/E ratio of 11.46, a PEG ratio of 4.44 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Tuesday, January 21st. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). United Microelectronics had a return on equity of 12.78% and a net margin of 20.35%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $5.30 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that United Microelectronics Co. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On United Microelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GTS Securities LLC increased its stake in shares of United Microelectronics by 119.0% during the 4th quarter. GTS Securities LLC now owns 97,052 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 52,732 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of United Microelectronics by 83.1% during the 4th quarter. Vise Technologies Inc. now owns 26,989 shares of the semiconductor company’s stock worth $175,000 after purchasing an additional 12,249 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of United Microelectronics during the 4th quarter worth about $650,000. Focus Partners Advisor Solutions LLC increased its stake in shares of United Microelectronics by 23.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 19,157 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 3,593 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of United Microelectronics by 9.6% during the 4th quarter. Squarepoint Ops LLC now owns 796,950 shares of the semiconductor company’s stock worth $5,172,000 after purchasing an additional 70,101 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

United Microelectronics Company Profile

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.