United Microelectronics (NYSE:UMC) Hits New 1-Year High at $2.49

Shares of United Microelectronics Corp (NYSE:UMC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $2.49 and last traded at $2.48, with a volume of 8304 shares changing hands. The stock had previously closed at $2.48.

Several equities analysts have commented on the stock. Citigroup upgraded shares of United Microelectronics from a “sell” rating to a “neutral” rating in a research note on Monday, November 25th. Goldman Sachs Group upgraded United Microelectronics from a “sell” rating to a “neutral” rating in a research note on Thursday, October 31st. Finally, ValuEngine cut United Microelectronics from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold”.

The business has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $2.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.32. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 40.67 and a beta of 0.94.

Institutional investors have recently made changes to their positions in the company. CAPROCK Group Inc. acquired a new stake in United Microelectronics in the second quarter valued at approximately $31,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of United Microelectronics in the 3rd quarter valued at approximately $32,000. Private Advisor Group LLC acquired a new stake in shares of United Microelectronics in the 2nd quarter valued at $42,000. Marshall Wace North America L.P. acquired a new stake in shares of United Microelectronics in the 2nd quarter valued at $47,000. Finally, Parallel Advisors LLC lifted its position in shares of United Microelectronics by 39.5% during the 2nd quarter. Parallel Advisors LLC now owns 23,107 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 6,542 shares during the last quarter. 5.29% of the stock is owned by institutional investors and hedge funds.

About United Microelectronics (NYSE:UMC)

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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