United Microelectronics Corporation (NYSE:UMC) Short Interest Update

United Microelectronics Corporation (NYSE:UMCGet Free Report) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 34,193,634 shares, a growth of 66.7% from the July 15th total of 20,511,587 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 17,966,337 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC bought a new position in United Microelectronics in the 2nd quarter valued at $27,000. TD Private Client Wealth LLC bought a new stake in shares of United Microelectronics during the fourth quarter worth $32,000. CoreCap Advisors LLC lifted its stake in shares of United Microelectronics by 271.0% during the second quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. Trust Co. of Vermont acquired a new position in shares of United Microelectronics during the second quarter valued at $41,000. Finally, Kestra Advisory Services LLC bought a new position in United Microelectronics in the fourth quarter valued at about $52,000. 5.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UMC shares. Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings upgraded shares of United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Zacks Research raised shares of United Microelectronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Arete Research upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Monday, August 10th. Finally, BNP Paribas Exane reissued an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.60.

Check Out Our Latest Stock Analysis on UMC

United Microelectronics Price Performance

Shares of UMC traded up $0.32 during mid-day trading on Monday, reaching $19.47. The company had a trading volume of 7,970,419 shares, compared to its average volume of 13,797,076. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 1.81. The company has a market capitalization of $49.02 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.45 and a beta of 1.60. United Microelectronics has a twelve month low of $6.56 and a twelve month high of $28.96. The company’s 50-day moving average is $22.12 and its 200-day moving average is $15.84.

United Microelectronics (NYSE:UMCGet Free Report) last posted its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share for the quarter. United Microelectronics had a net margin of 33.18% and a return on equity of 21.00%. The business had revenue of $2.16 billion for the quarter. On average, equities analysts anticipate that United Microelectronics will post 1.23 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.4122 per share. This is a positive change from United Microelectronics’s previous annual dividend of $0.37. This represents a yield of 166.0%. The ex-dividend date of this dividend was Wednesday, July 8th. United Microelectronics’s payout ratio is currently 28.97%.

About United Microelectronics

(Get Free Report)

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.

Further Reading

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