Morgan Stanley cut shares of United Microelectronics (NYSE:UMC) from an equal weight rating to an underweight rating in a research note released on Friday, November 16th, MarketBeat.com reports.

A number of other research analysts have also recently commented on the stock. UBS Group cut shares of United Microelectronics from a buy rating to a neutral rating and set a $1.78 price target on the stock. in a report on Tuesday, November 6th. ValuEngine cut shares of United Microelectronics from a hold rating to a sell rating in a report on Monday, October 8th. CLSA cut shares of United Microelectronics from an underperform rating to a sell rating in a report on Monday, November 5th. Credit Suisse Group cut shares of United Microelectronics from a neutral rating to an underperform rating in a report on Friday, November 2nd. Finally, HSBC lowered shares of United Microelectronics from a buy rating to a hold rating in a research note on Wednesday, October 24th. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $2.19.

UMC stock traded down $0.03 during mid-day trading on Friday, reaching $1.76. 1,184,163 shares of the stock traded hands, compared to its average volume of 1,221,300. The company has a quick ratio of 2.38, a current ratio of 2.72 and a debt-to-equity ratio of 0.32. United Microelectronics has a one year low of $1.64 and a one year high of $3.14. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 12.79 and a beta of 0.91.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). United Microelectronics had a net margin of 6.93% and a return on equity of 4.94%. The firm had revenue of $39.39 billion for the quarter, compared to the consensus estimate of $39.72 billion. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the stock. Henry James International Management Inc. purchased a new stake in shares of United Microelectronics during the third quarter valued at about $140,000. Mackenzie Financial Corp purchased a new stake in shares of United Microelectronics during the third quarter valued at about $149,000. Macquarie Group Ltd. lifted its position 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 valued at $258,000 after buying an additional 90,000 shares during the last quarter. Credit Suisse AG lifted its position in shares of United Microelectronics by 120.3% during the third quarter. Credit Suisse AG now owns 119,970 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 65,521 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of United Microelectronics by 61.5% during the second quarter. Citadel Advisors LLC now owns 140,055 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 53,347 shares during the last quarter. 5.04% of the stock is owned by institutional investors.

United Microelectronics Company Profile

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.

Featured Article: What are the Different Types of Leveraged Buyouts?

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.