Macquarie upgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to an outperform rating in a research note released on Wednesday morning, Briefing.com Automated Import reports.

A number of other research analysts also recently issued reports on the stock. HSBC upgraded shares of United Microelectronics from a reduce rating to a hold rating in a research report on Wednesday, April 24th. Goldman Sachs Group set a €40.50 ($47.09) price target on shares of Koninklijke Philips and gave the stock a buy rating in a research report on Tuesday, May 7th. Credit Suisse Group upgraded shares of United Microelectronics from an underperform rating to a neutral rating in a research report on Wednesday, April 24th. CLSA upgraded shares of United Microelectronics from a sell rating to an outperform rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teck Resources from C$56.00 to C$55.00 in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $1.78.

Shares of NYSE UMC opened at $2.30 on Wednesday. The firm has a market cap of $5.63 billion, a P/E ratio of 33.14 and a beta of 0.95. United Microelectronics has a 52-week low of $1.64 and a 52-week high of $2.96. The company has a quick ratio of 2.43, a current ratio of 2.79 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $2.11.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $32.58 billion for the quarter, compared to the consensus estimate of $32.76 billion. United Microelectronics had a net margin of 3.33% and a return on equity of 2.31%. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS.

The business also recently disclosed an annual dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, July 16th will be paid a $0.0936 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a dividend yield of 5.45%.

Large investors have recently added to or reduced their stakes in the company. LMR Partners LLP increased its stake in United Microelectronics by 195.9% during the 4th quarter. LMR Partners LLP now owns 16,297,975 shares of the semiconductor company’s stock valued at $30,010,000 after purchasing an additional 10,789,991 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in United Microelectronics by 23.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,775,653 shares of the semiconductor company’s stock valued at $14,618,000 after purchasing an additional 1,497,157 shares in the last quarter. Northern Trust Corp grew its stake in shares of United Microelectronics by 76.5% in the 4th quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock worth $4,791,000 after acquiring an additional 1,159,883 shares in the last quarter. FMR LLC grew its stake in shares of United Microelectronics by 256,831,800.0% in the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock worth $4,828,000 after acquiring an additional 2,568,318 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of United Microelectronics by 140.3% in the 4th quarter. Millennium Management LLC now owns 1,920,712 shares of the semiconductor company’s stock worth $3,438,000 after acquiring an additional 1,121,267 shares in the last quarter. Institutional investors own 5.32% of the company’s stock.

About United Microelectronics

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.

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Analyst Recommendations for United Microelectronics (NYSE:UMC)

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