Goldman Sachs analyst Bruce Lu downgraded UMC to Neutral from Buy with an $8.90 price target.
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Read More on UMC:
- United Microelectronics’ (NYSE:UMC) Top Line Declined by ~19% in December
- UMC reports December revenue NT$16.98M, down 18.94%
- United Microelectronics put volume heavy and directionally bearish
- Largest borrow rate increases among liquid names
- United Microelectronics call volume above normal and directionally bullish