TheStreet upgraded shares of United Microelectronics Corp (NYSE: UMC) from a hold rating to a buy rating in a research report sent to investors on Monday morning, AnalystRatingsNetwork reports.
“United Microelectronics (UMC) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.,” the firm’s analyst wrote.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of United Microelectronics Corp from an overweight rating to a neutral rating in a research note to investors on Monday, June 10th. They now have a $14.00 price target on the stock, down previously from $14.50. Analysts at Credit Agricole upgraded shares of United Microelectronics Corp from a sell rating to an underperform rating in a research note to investors on Thursday, May 9th.
Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $14.00.
United Microelectronics Corp (NYSE: UMC) remained flat at $2.35 during trading on Monday. United Microelectronics Corp has a 1-year low of $1.75 and a 1-year high of $2.44. The stock’s 50-day moving average is currently $2.19. The company has a market cap of $5.912 billion and a price-to-earnings ratio of 13.82.
The company also recently declared a annual dividend, which is scheduled for Thursday, August 15th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.07 per share. This represents a yield of 3.22%. The ex-dividend date of this dividend is Monday, July 8th.
United Microelectronics Corp. is principally engaged in the manufacture of semiconductor products. The Company operates its businesses primarily through wafer production services.