United Microelectronics (NYSE:UMC) Announces Earnings Results

United Microelectronics (NYSE:UMC) issued its quarterly earnings data on Tuesday. The semiconductor company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03), Zacks reports. United Microelectronics had a return on equity of 14.35% and a net margin of 22.89%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $5.30 EPS. United Microelectronics’s revenue for the quarter was up 4.9% compared to the same quarter last year.

United Microelectronics Stock Down 4.0 %

UMC opened at $6.03 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 2.19 and a debt-to-equity ratio of 0.16. The firm has a market cap of $15.10 billion, a P/E ratio of 9.27, a PEG ratio of 3.06 and a beta of 1.17. The business’s fifty day simple moving average is $6.61 and its 200 day simple moving average is $7.60. United Microelectronics has a 52 week low of $5.88 and a 52 week high of $9.00.

Analyst Upgrades and Downgrades

UMC has been the subject of a number of recent analyst reports. Citigroup cut shares of United Microelectronics from a “buy” rating to a “sell” rating in a report on Tuesday. StockNews.com cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. The Goldman Sachs Group lowered shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price on the stock. in a research report on Thursday, October 17th. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. downgraded United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

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.