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Enter Symbol:
Rating: UMC

United Microelectronics Corporation (NYSE: UMC) upgraded to Buy by HSBC Securities

Wednesday,  Jan 27, 2016  12:25 PM ET by Lynn Gilbert

HSBC Securities upgraded United Microelectronics Corporation (NYSE: UMC) to Buy. Previously,
HSBC Securities rated United Microelectronics Corporation (NYSE: UMC) to Neutral on 02/09/2012, when the stock price was valued at $2.64.

United Microelectronics Corporation is engaged in the business of manufacturing or fabrication of semiconductors. Using the processes and techniques, the Company manufactures chips to the design specifications of the customers. The Company maintains a customer base across industries, including communication, consumer electronics, computer, memory and others. During the year ended December 31, 2008, the net wafer sales derived from the products used in communication devices, consumer electronics, personal computers (PCs), memory and other applications were 55.86%, 24.66%, 17.27%, 0.72% and 1.49% respectively.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.

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