Allspring Global Investments Holdings LLC Has $1.93 Million Stock Holdings in United Microelectronics Corporation (NYSE:UMC)

Allspring Global Investments Holdings LLC trimmed its position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of UMC. Golden State Wealth Management LLC purchased a new position in United Microelectronics during the first quarter worth approximately $29,000. Farther Finance Advisors LLC grew its stake in United Microelectronics by 134.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 2,859 shares in the last quarter. Callan Family Office LLC acquired a new position in United Microelectronics during the 4th quarter worth $70,000. SBI Securities Co. Ltd. acquired a new position in United Microelectronics during the 4th quarter worth $73,000. Finally, Natural Investments LLC acquired a new position in United Microelectronics during the 4th quarter worth $74,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Price Performance

Shares of UMC traded up $0.08 on Tuesday, reaching $7.63. The stock had a trading volume of 5,057,740 shares, compared to its average volume of 12,601,723. The firm has a market capitalization of $19.17 billion, a PE ratio of 14.13, a PEG ratio of 1.68 and a beta of 1.14. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $7.74 and a 200 day moving average of $6.91. United Microelectronics Corporation has a twelve month low of $5.61 and a twelve month high of $8.95.

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

United Microelectronics Increases Dividend

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

Analyst Ratings Changes

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

United Microelectronics Profile

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.