159,747 Shares in United Microelectronics Corporation $UMC Purchased by Delta Global Management LP

Key Points

• Delta Global Management acquired 159,747 shares of United Microelectronics, valued at approximately $1.435 million. Several other institutional investors also increased their positions, though institutional ownership remains relatively low at 5.05%.
• UMC reported quarterly EPS of $0.20, exceeding the $0.12 consensus estimate, while revenue came in at $1.91 billion. The company also raised its annual dividend to $0.4122 per share.
• Despite recent earnings strength, analyst sentiment remains negative: UMC has a consensus rating of “Strong Sell” and an average price target of $8.60, well below its reported trading price of $19.43.

Delta Global Management LP acquired a new stake in United Microelectronics Corporation (NYSE:UMC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 159,747 shares of the semiconductor company's stock, valued at approximately $1,435,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UMC. Arrowstreet Capital Limited Partnership raised its holdings in shares of United Microelectronics by 0.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company's stock valued at $1,166,000 after buying an additional 1,074 shares during the last quarter. Cetera Investment Advisers grew its holdings in United Microelectronics by 7.7% in the 4th quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company's stock worth $122,000 after buying an additional 1,103 shares in the last quarter. Xponance LLC increased its position in United Microelectronics by 7.2% in the 4th quarter. Xponance LLC now owns 20,494 shares of the semiconductor company's stock valued at $161,000 after acquiring an additional 1,384 shares during the period. Bridgewater Advisors Inc. increased its position in United Microelectronics by 1.8% in the 1st quarter. Bridgewater Advisors Inc. now owns 79,803 shares of the semiconductor company's stock valued at $717,000 after acquiring an additional 1,449 shares during the period. Finally, GeoWealth Management LLC increased its position in United Microelectronics by 10.2% in the 3rd quarter. GeoWealth Management LLC now owns 15,710 shares of the semiconductor company's stock valued at $119,000 after acquiring an additional 1,459 shares during the period. Institutional investors own 5.05% of the company's stock.

United Microelectronics Trading Down 0.2%

United Microelectronics stock opened at $19.43 on Monday. United Microelectronics Corporation has a 12-month low of $6.56 and a 12-month high of $28.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. The stock has a market capitalization of $48.93 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.31 and a beta of 1.58. The firm has a 50 day simple moving average of $22.51 and a 200-day simple moving average of $14.80.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. As a group, equities research analysts expect that United Microelectronics Corporation will post 0.69 EPS for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, August 6th. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.4122 per share. This is a boost from United Microelectronics's previous annual dividend of $0.37. The ex-dividend date is Wednesday, July 8th. This represents a dividend yield of 166.0%. United Microelectronics's payout ratio is 49.23%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UMC shares. Weiss Ratings reiterated a "hold (c)" rating on shares of United Microelectronics in a research report on Tuesday, May 26th. BNP Paribas Exane reissued an "underperform" rating on shares of United Microelectronics in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of United Microelectronics from a "hold" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Sell" and an average price target of $8.60.

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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