Lazard Asset Management LLC Makes New $628,000 Investment in United Microelectronics Corporation $UMC

Key Points

• Lazard Asset Management acquired 69,988 shares of United Microelectronics, valued at approximately $628,000, while other institutional investors also increased or initiated positions. Hedge funds and institutional investors collectively own 5.05% of UMC.
• UMC reported quarterly earnings of $0.53 per share on $2.16 billion in revenue, with a 33.18% net margin and 21% return on equity. The company also raised its annual dividend to $0.4122 per share.
• Shares opened at $19.25, despite analysts’ consensus “Reduce” rating and an $8.60 target price. Analyst opinions remain mixed, ranging from “Strong Buy” to “Sell.”

Lazard Asset Management LLC acquired a new stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 69,988 shares of the semiconductor company's stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC bought a new stake in shares of United Microelectronics in the 2nd quarter worth about $27,000. TD Private Client Wealth LLC bought a new position in United Microelectronics during the 4th quarter valued at about $32,000. Kestra Advisory Services LLC bought a new position in United Microelectronics during the 4th quarter valued at about $52,000. Arax Advisory Partners raised its position in United Microelectronics by 583.7% in the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company's stock worth $68,000 after purchasing an additional 7,390 shares during the period. Finally, Allworth Financial LP raised its position in United Microelectronics by 20.5% in the 4th quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company's stock worth $69,000 after purchasing an additional 1,498 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.

United Microelectronics Trading Down 0.2%

NYSE UMC opened at $19.25 on Friday. The stock has a market cap of $48.47 billion, a PE ratio of 17.99, a PEG ratio of 0.45 and a beta of 1.60. United Microelectronics Corporation has a 12 month low of $6.56 and a 12 month high of $28.96. The company's 50-day moving average price is $22.43 and its 200-day moving average price is $15.44. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10.

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. The company had revenue of $2.16 billion during the quarter. United Microelectronics had a net margin of 33.18% and a return on equity of 21.00%. Equities research analysts forecast that United Microelectronics Corporation will post 1.23 earnings per share for the current year.

United Microelectronics Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BNP Paribas Exane restated an "underperform" rating on shares of United Microelectronics in a research report on Thursday, May 28th. Weiss Ratings upgraded United Microelectronics from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Zacks Research upgraded United Microelectronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised United Microelectronics from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, United Microelectronics presently has a consensus rating of "Reduce" and a consensus target price 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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