Allspring Global Investments Holdings LLC Trims Stake in United Microelectronics Corporation (NYSE:UMC)

Allspring Global Investments Holdings LLC reduced its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 28.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of United Microelectronics during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in shares of United Microelectronics by 134.8% during the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 2,859 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $70,000. SBI Securities Co. Ltd. purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $73,000. Finally, Natural Investments LLC purchased a new position in shares of United Microelectronics during the fourth quarter valued at approximately $74,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Performance

Shares of NYSE:UMC traded down $0.15 during midday trading on Thursday, hitting $7.56. The company had a trading volume of 4,162,534 shares, compared to its average volume of 12,713,730. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.64 and a quick ratio of 2.15. United Microelectronics Corporation has a 12-month low of $5.61 and a 12-month high of $8.95. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.65 and a beta of 1.14. The company has a fifty day moving average of $7.78 and a two-hundred day moving average of $6.93.

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

United Microelectronics Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.3661 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a yield of 4.6%. This is an increase from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's payout ratio is currently 68.52%.

United Microelectronics Company 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.