United Microelectronics (NYSE:UMC) Shares Gap Up – Here’s What Happened

United Microelectronics Corporation (NYSE:UMCGet Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $19.88, but opened at $20.43. United Microelectronics shares last traded at $20.3250, with a volume of 4,438,058 shares traded.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on United Microelectronics

United Microelectronics Stock Performance

The company’s fifty day simple moving average is $21.17 and its two-hundred day simple moving average is $16.60. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.81 and a current ratio of 2.17.

United Microelectronics (NYSE:UMCGet Free Report) last issued its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) 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. Equities research analysts predict that United Microelectronics Corporation will post 1.23 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Investors of record on Wednesday, July 8th were issued a $0.4122 dividend. This is an increase 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 dividend payout ratio is presently 28.97%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Continuum Advisory LLC acquired a new position in shares of United Microelectronics in the 2nd quarter worth approximately $28,000. CoreCap Advisors LLC raised its position in shares of United Microelectronics by 271.0% during the 2nd 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 in the last quarter. Trust Co. of Vermont acquired a new stake in shares of United Microelectronics during the 2nd quarter valued at approximately $41,000. Strategic Investment Solutions Inc. IL bought a new position in United Microelectronics during the second quarter worth $76,000. Finally, Smartleaf Asset Management LLC bought a new position in United Microelectronics during the second quarter worth $27,000. Institutional investors own 5.05% of the company’s stock.

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

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.