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

Key Points

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Ethic Inc. grew its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in United Microelectronics in the 1st quarter worth $29,000. Farther Finance Advisors LLC boosted its position in shares of United Microelectronics by 134.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 2,859 shares in the last quarter. Choreo LLC acquired a new stake in shares of United Microelectronics during the 1st quarter valued at about $80,000. GAMMA Investing LLC boosted its position in shares of United Microelectronics by 262.9% during the 1st quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock valued at $87,000 after acquiring an additional 8,772 shares in the last quarter. Finally, GeoWealth Management LLC boosted its position in shares of United Microelectronics by 236.3% during the 4th quarter. GeoWealth Management LLC now owns 13,518 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 9,498 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

United Microelectronics Price Performance

UMC stock traded up $0.0150 during trading on Friday, hitting $6.7550. 8,352,334 shares of the stock traded hands, compared to its average volume of 8,311,293. United Microelectronics Corporation has a one year low of $5.61 and a one year high of $8.87. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 4.07 and a beta of 1.01. The company has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $7.11. 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 (NYSE:UMC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. During the same period in the prior year, the business earned $0.17 earnings per share. Equities 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 was paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th were issued a dividend of $0.3661 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a yield of 460.0%. This is an increase from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's payout ratio is 75.51%.

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.