Mackenzie Financial Corp Purchases Shares of 204,072 United Microelectronics Corporation (NYSE:UMC)

Key Points

• Mackenzie Financial Corp has invested approximately $1.46 million in United Microelectronics Corporation, acquiring 204,072 shares as part of its new position in the semiconductor firm.
• Several institutional investors, including Golden State Wealth Management and GAMMA Investing, have also recently made significant investments in United Microelectronics, indicating growing interest from the investment community.
• The company's stock has seen a dividend increase to $0.3661 per share, with a high yield of 460.0%, reflecting a strong commitment to returning capital to shareholders despite recent earnings misses.

Mackenzie Financial Corp purchased a new position in United Microelectronics Corporation (NYSE:UMC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 204,072 shares of the semiconductor company's stock, valued at approximately $1,459,000.

A number of other institutional investors have also added to or reduced their stakes in UMC. Mercer Global Advisors Inc. ADV increased its position in United Microelectronics by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company's stock valued at $233,000 after buying an additional 1,599 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of United Microelectronics by 8.2% in the first quarter. Sivia Capital Partners LLC now owns 23,380 shares of the semiconductor company's stock worth $167,000 after acquiring an additional 1,773 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of United Microelectronics by 3.1% during the first quarter. QRG Capital Management Inc. now owns 63,408 shares of the semiconductor company's stock valued at $453,000 after acquiring an additional 1,891 shares in the last quarter. LPL Financial LLC raised its position in shares of United Microelectronics by 3.3% in the 4th quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock worth $401,000 after purchasing an additional 1,963 shares during the last quarter. Finally, Wealthstream Advisors Inc. raised its position in shares of United Microelectronics by 18.4% in the 1st quarter. Wealthstream Advisors Inc. now owns 16,465 shares of the semiconductor company's stock worth $118,000 after purchasing an additional 2,555 shares during the last quarter. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Performance

United Microelectronics stock traded up $0.05 during midday trading on Friday, reaching $6.72. 2,465,361 shares of the company traded hands, compared to its average volume of 11,730,475. United Microelectronics Corporation has a 12 month low of $5.61 and a 12 month high of $8.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. The business has a 50 day moving average of $7.57 and a two-hundred day moving average of $7.03. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 4.05 and a beta of 1.01.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $61.88 billion. During the same quarter last year, the company posted $0.17 EPS. As a group, research analysts predict that United Microelectronics Corporation will post 0.51 earnings per share 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 paid a $0.3661 dividend. This is a boost from United Microelectronics's previous annual dividend of $0.36. The ex-dividend date was Tuesday, June 24th. This represents a dividend yield of 460.0%. United Microelectronics's dividend payout ratio (DPR) is currently 75.51%.

Wall Street Analysts Forecast Growth

UMC has been the topic of several recent analyst reports. Wedbush downgraded shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, United Microelectronics currently has an average rating of "Hold" and a consensus target price of $7.40.

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.