United Microelectronics Corp (NYSE:UMC) was downgraded by investment analysts at Daiwa Capital Markets from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
United Microelectronics Corp (NYSE:UMC) opened at 1.88 on Wednesday. United Microelectronics Corp has a 12 month low of $1.60 and a 12 month high of $2.14. The firm’s 50-day moving average is $1.88 and its 200 day moving average is $1.94. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 20.89 and a beta of 1.10.
United Microelectronics Corp (NYSE:UMC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 EPS for the quarter. Equities analysts predict that United Microelectronics Corp will post $0.10 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its position in United Microelectronics Corp by 8.2% in the second quarter. World Asset Management Inc now owns 157,930 shares of the company’s stock valued at $314,000 after buying an additional 11,974 shares during the period. Sensato Investors LLC raised its position in United Microelectronics Corp by 172.7% in the first quarter. Sensato Investors LLC now owns 159,000 shares of the company’s stock valued at $331,000 after buying an additional 100,700 shares during the period. Bank of New York Mellon Corp raised its position in United Microelectronics Corp by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 41,100,054 shares of the company’s stock valued at $81,789,000 after buying an additional 6,766,798 shares during the period. Bank of Montreal Can acquired a new position in United Microelectronics Corp during the second quarter valued at approximately $2,531,000. Finally, Renaissance Technologies LLC raised its position in United Microelectronics Corp by 17.5% in the first quarter. Renaissance Technologies LLC now owns 5,463,900 shares of the company’s stock valued at $11,365,000 after buying an additional 815,414 shares during the period.
About United Microelectronics Corp
United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) 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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