United Microelectronics Corporation (NYSE:UMC – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $23.84, but opened at $25.60. United Microelectronics shares last traded at $25.4270, with a volume of 1,835,320 shares changing hands.
Analyst Ratings Changes
A number of equities research analysts recently commented on UMC shares. Wall Street Zen lowered United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, United Microelectronics has an average rating of “Strong Sell” and a consensus target price of $8.60.
Check Out Our Latest Analysis on UMC
United Microelectronics Stock Down 10.4%
United Microelectronics (NYSE:UMC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. As a group, equities analysts predict that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.
United Microelectronics Increases Dividend
The firm also recently declared an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Wednesday, July 8th will be paid a dividend of $0.4122 per share. This represents a dividend yield of 166.0%. This is a positive change from United Microelectronics’s previous annual dividend of $0.37. The ex-dividend date of this dividend is Wednesday, July 8th. United Microelectronics’s payout ratio is presently 49.23%.
Hedge Funds Weigh In On United Microelectronics
Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of United Microelectronics by 3,854.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 168,648 shares of the semiconductor company’s stock valued at $1,326,000 after purchasing an additional 164,383 shares during the period. Moran Wealth Management LLC grew its stake in shares of United Microelectronics by 13.8% during the fourth quarter. Moran Wealth Management LLC now owns 792,367 shares of the semiconductor company’s stock worth $6,228,000 after purchasing an additional 95,871 shares during the period. Ethic Inc. increased its holdings in United Microelectronics by 16.6% in the fourth quarter. Ethic Inc. now owns 495,589 shares of the semiconductor company’s stock valued at $3,895,000 after purchasing an additional 70,597 shares during the last quarter. QRG Capital Management Inc. increased its holdings in United Microelectronics by 115.3% in the first quarter. QRG Capital Management Inc. now owns 86,927 shares of the semiconductor company’s stock valued at $781,000 after purchasing an additional 46,549 shares during the last quarter. Finally, Matthews International Capital Management LLC acquired a new position in United Microelectronics in the first quarter valued at about $8,779,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.
United Microelectronics Company Profile
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.
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