United Microelectronics Corporation (NYSE:UMC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 2,495.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,572 shares of the semiconductor company's stock after acquiring an additional 83,236 shares during the period. GAMMA Investing LLC's holdings in United Microelectronics were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC increased its holdings in United Microelectronics by 3,091.8% during the 4th quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock valued at $92,998,000 after acquiring an additional 13,880,446 shares in the last quarter. Northern Trust Corp increased its holdings in United Microelectronics by 238.8% during the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock valued at $20,667,000 after acquiring an additional 2,244,574 shares in the last quarter. Renaissance Technologies LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $12,768,000. JPMorgan Chase & Co. increased its holdings in United Microelectronics by 150.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock valued at $13,122,000 after acquiring an additional 1,215,849 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in United Microelectronics by 958.3% during the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock valued at $6,379,000 after acquiring an additional 889,972 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Trading Down 1.1%

Shares of NYSE UMC traded down $0.09 during midday trading on Friday, reaching $8.18. 9,674,835 shares of the stock were exchanged, compared to its average volume of 12,804,006. The company has a market capitalization of $20.54 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.75 and a beta of 1.15. United Microelectronics Corporation has a 52-week low of $5.61 and a 52-week high of $8.95. The company has a current ratio of 2.64, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $7.55 and a 200-day moving average price of $6.82.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly 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). The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $57.63 billion. United Microelectronics had a return on equity of 12.10% and a net margin of 18.97%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Equities research analysts expect that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from United Microelectronics's previous annual dividend of $0.36. This represents a dividend yield of 4.6%. United Microelectronics's dividend payout ratio (DPR) is currently 64.81%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a report on Friday, May 23rd. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. Finally, Citigroup upgraded shares of United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.