Headlands Technologies LLC Lowers Stock Position in United Microelectronics Corporation $UMC

Key Points

• Headlands Technologies cut its UMC position by 67.7% in the second quarter, selling 68,901 shares and retaining 32,855 shares worth approximately $894,000. Institutional investors overall own 5.05% of the company.
• Analyst sentiment is mixed but improving: Arete Research, Zacks Research, and Wall Street Zen upgraded UMC, while BNP Paribas Exane maintained an underperform rating. The consensus rating remains Hold, with an average price target of $8.60.
• UMC reported quarterly revenue of $2.16 billion and earnings of $0.53 per share, alongside a 21% return on equity and 33.18% net margin. The company also increased its annual dividend to $0.4122 per share.

Headlands Technologies LLC lessened its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 67.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,855 shares of the semiconductor company's stock after selling 68,901 shares during the quarter. Headlands Technologies LLC's holdings in United Microelectronics were worth $894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in shares of United Microelectronics by 1,794.6% in the first quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company's stock worth $448,000 after acquiring an additional 59,349 shares during the period. Goldman Sachs Group Inc. grew its holdings in United Microelectronics by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company's stock valued at $40,438,000 after purchasing an additional 537,777 shares during the period. Sivia Capital Partners LLC increased its position in shares of United Microelectronics by 25.8% in the second quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company's stock valued at $225,000 after buying an additional 6,028 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of United Microelectronics in the second quarter valued at approximately $108,000. Finally, Franklin Resources Inc. raised its stake in shares of United Microelectronics by 37.9% during the 2nd quarter. Franklin Resources Inc. now owns 24,735 shares of the semiconductor company's stock worth $189,000 after buying an additional 6,793 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

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

United Microelectronics Stock Up 3.4%

Shares of UMC opened at $20.56 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.81 and a current ratio of 2.17. United Microelectronics Corporation has a one year low of $6.56 and a one year high of $28.96. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 0.47 and a beta of 1.59. The stock has a 50 day moving average price of $21.33 and a 200 day moving average price of $16.53.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The company had revenue of $2.16 billion for the quarter. Equities research analysts forecast that United Microelectronics Corporation will post 1.23 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, August 6th. Stockholders of record on Wednesday, July 8th were given a $0.4122 dividend. This represents a dividend yield of 166.0%. This is a positive change from United Microelectronics's previous annual dividend of $0.37. The ex-dividend date was Wednesday, July 8th. United Microelectronics's dividend payout ratio (DPR) is currently 28.97%.

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.

Want to see what other hedge funds are holding UMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Microelectronics Corporation (NYSE:UMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source