Ethic Inc. Purchases 44,635 Shares of United Microelectronics Corporation $UMC

Key Points

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Ethic Inc. grew its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 343,599 shares of the semiconductor company's stock after purchasing an additional 44,635 shares during the period. Ethic Inc.'s holdings in United Microelectronics were worth $2,398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in United Microelectronics by 110.8% during the first quarter. HighTower Advisors LLC now owns 30,156 shares of the semiconductor company's stock worth $216,000 after purchasing an additional 15,850 shares during the last quarter. Citigroup Inc. grew its stake in shares of United Microelectronics by 3.4% during the first quarter. Citigroup Inc. now owns 6,030,617 shares of the semiconductor company's stock valued at $43,119,000 after buying an additional 196,262 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of United Microelectronics by 7.9% during the first quarter. PNC Financial Services Group Inc. now owns 90,510 shares of the semiconductor company's stock valued at $647,000 after buying an additional 6,659 shares during the last quarter. US Bancorp DE grew its stake in shares of United Microelectronics by 114.0% during the first quarter. US Bancorp DE now owns 262,000 shares of the semiconductor company's stock valued at $1,873,000 after buying an additional 139,592 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of United Microelectronics by 95.9% during the first quarter. Natixis Advisors LLC now owns 172,220 shares of the semiconductor company's stock valued at $1,231,000 after buying an additional 84,306 shares during the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Performance

NYSE:UMC traded up $0.0150 during trading hours on Friday, reaching $6.7550. The company had a trading volume of 4,441,502 shares, compared to its average volume of 11,482,206. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.87. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 4.13 and a beta of 1.01. The firm's 50 day moving average price is $7.39 and its 200-day moving average price is $7.10.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.02). United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $61.88 billion. During the same period last year, the firm posted $0.17 EPS. On average, analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, June 24th were given a dividend of $0.3661 per share. This represents a dividend yield of 460.0%. The ex-dividend date of this dividend was Tuesday, June 24th. This is a positive change from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's payout ratio is presently 75.51%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.40.

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.