Allspring Global Investments Holdings LLC Decreases Position in United Microelectronics Corporation (NYSE:UMC)

Allspring Global Investments Holdings LLC reduced its stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 28.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,274 shares of the semiconductor company's stock after selling 107,568 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in United Microelectronics were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UMC. Proficio Capital Partners LLC bought a new stake in shares of United Microelectronics in the fourth quarter worth about $174,000. SBI Securities Co. Ltd. bought a new stake in shares of United Microelectronics in the fourth quarter worth about $73,000. Raymond James Financial Inc. bought a new stake in shares of United Microelectronics in the fourth quarter worth about $183,000. Callan Family Office LLC bought a new stake in shares of United Microelectronics in the fourth quarter worth about $70,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of United Microelectronics in the fourth quarter worth about $219,000. 5.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UMC. The Goldman Sachs Group reissued a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Wedbush cut United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. Finally, Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, United Microelectronics has a consensus rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Stock Up 0.8%

Shares of United Microelectronics stock traded up $0.06 during trading on Wednesday, hitting $7.70. The company's stock had a trading volume of 5,607,598 shares, compared to its average volume of 12,735,266. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.95. The company has a market capitalization of $19.34 billion, a PE ratio of 14.26, a P/E/G ratio of 1.62 and a beta of 1.14. The company has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $6.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.64.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). United Microelectronics had a return on equity of 12.10% and a net margin of 18.97%. The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $57.63 billion. During the same quarter last year, the company posted $0.13 EPS. United Microelectronics's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

United Microelectronics Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.3661 per share. This represents a dividend yield of 4.6%. This is a positive change from United Microelectronics's previous annual dividend of $0.36. The ex-dividend date of this dividend is Tuesday, June 24th. United Microelectronics's dividend payout ratio (DPR) is presently 68.52%.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.