Allspring Global Investments Holdings LLC Sells 107,568 Shares of United Microelectronics Corporation (NYSE:UMC)

Allspring Global Investments Holdings LLC cut its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 28.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 also recently made changes to their positions in the business. BSW Wealth Partners raised its stake in shares of United Microelectronics by 181.0% in the 1st quarter. BSW Wealth Partners now owns 36,716 shares of the semiconductor company's stock worth $263,000 after buying an additional 23,648 shares in the last quarter. PDS Planning Inc raised its stake in shares of United Microelectronics by 18.2% during the 1st quarter. PDS Planning Inc now owns 68,371 shares of the semiconductor company's stock worth $489,000 after purchasing an additional 10,543 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of United Microelectronics by 37.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 136,450 shares of the semiconductor company's stock worth $976,000 after purchasing an additional 37,105 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of United Microelectronics in the 1st quarter valued at approximately $29,000. Finally, Moran Wealth Management LLC raised its stake in shares of United Microelectronics by 7.2% in the 1st quarter. Moran Wealth Management LLC now owns 661,347 shares of the semiconductor company's stock valued at $4,729,000 after acquiring an additional 44,572 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Stock Down 0.8%

UMC stock traded down $0.06 during trading on Friday, reaching $7.50. 4,104,628 shares of the stock were exchanged, compared to its average volume of 12,679,434. The firm's 50 day moving average is $7.78 and its 200 day moving average is $6.93. United Microelectronics Corporation has a twelve month low of $5.61 and a twelve month high of $8.95. The company has a current ratio of 2.64, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. The firm has a market cap of $18.84 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14.

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

United Microelectronics Increases Dividend

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

Analysts Set New Price Targets

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

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.