B. Metzler seel. Sohn & Co. AG Sells 430,524 Shares of United Microelectronics Corporation $UMC

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its United Microelectronics stake by 65.9% in the second quarter, selling 430,524 shares and retaining 222,975 shares valued at approximately $6.07 million.
• United Microelectronics reported quarterly revenue of $2.16 billion and EPS of $0.53, while raising its annual dividend to $0.4122 per share. The stock opened at $19.84, with a 12-month range of $6.72 to $28.96.
• Analyst sentiment remains mixed: upgrades included “buy” and “strong buy” ratings, but the overall consensus is “Hold”, with an average price target of $8.60.

B. Metzler seel. Sohn & Co. AG cut its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 65.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,975 shares of the semiconductor company's stock after selling 430,524 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in United Microelectronics were worth $6,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in United Microelectronics by 873.8% during the 4th quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company's stock valued at $74,389,000 after acquiring an additional 8,492,466 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in United Microelectronics by 50.7% during the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company's stock worth $64,283,000 after purchasing an additional 2,826,486 shares during the last quarter. Bank of America Corp DE grew its position in United Microelectronics by 4.9% in the 3rd quarter. Bank of America Corp DE now owns 7,388,868 shares of the semiconductor company's stock worth $56,008,000 after purchasing an additional 344,416 shares in the last quarter. Goldman Sachs Group Inc. grew its position in United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company's stock worth $40,438,000 after purchasing an additional 537,777 shares in the last quarter. Finally, Barclays PLC increased its stake in United Microelectronics by 35.2% in the 4th quarter. Barclays PLC now owns 5,511,784 shares of the semiconductor company's stock valued at $43,323,000 after buying an additional 1,435,780 shares during the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Performance

NYSE UMC opened at $19.84 on Friday. The firm has a market cap of $49.95 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 0.47 and a beta of 1.59. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $21.02 and its 200-day moving average is $16.67. United Microelectronics Corporation has a 12-month low of $6.72 and a 12-month high of $28.96.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. United Microelectronics had a net margin of 33.18% and a return on equity of 21.00%. The business had revenue of $2.16 billion for the quarter. Sell-side analysts predict that United Microelectronics Corporation will post 1.23 earnings per share for the current year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Investors of record on Wednesday, July 8th were paid a dividend of $0.4122 per share. This is an increase from United Microelectronics's previous annual dividend of $0.37. This represents a yield of 166.0%. The ex-dividend date of this dividend was Wednesday, July 8th. United Microelectronics's dividend payout ratio is presently 28.97%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UMC. Arete Research raised United Microelectronics from a "neutral" rating to a "buy" rating in a research report on Monday, August 10th. Weiss Ratings raised United Microelectronics from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Zacks Research upgraded United Microelectronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. BNP Paribas Exane reaffirmed an "underperform" rating on shares of United Microelectronics in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded United Microelectronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, United Microelectronics has an average rating of "Hold" and an average price target of $8.60.

United Microelectronics 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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