Moran Wealth Management LLC boosted its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 661,347 shares of the semiconductor company's stock after purchasing an additional 44,572 shares during the quarter. Moran Wealth Management LLC's holdings in United Microelectronics were worth $4,729,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its position in United Microelectronics by 6.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 76,460 shares of the semiconductor company's stock worth $547,000 after purchasing an additional 4,749 shares in the last quarter. Avior Wealth Management LLC boosted its position in United Microelectronics by 45.2% during the first quarter. Avior Wealth Management LLC now owns 20,065 shares of the semiconductor company's stock worth $143,000 after purchasing an additional 6,244 shares in the last quarter. Blue Trust Inc. boosted its position in United Microelectronics by 38.2% during the first quarter. Blue Trust Inc. now owns 77,678 shares of the semiconductor company's stock worth $555,000 after purchasing an additional 21,457 shares in the last quarter. QRG Capital Management Inc. boosted its position in United Microelectronics by 3.1% during the first quarter. QRG Capital Management Inc. now owns 63,408 shares of the semiconductor company's stock worth $453,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Adero Partners LLC purchased a new position in United Microelectronics during the first quarter worth approximately $89,000. Hedge funds and other institutional investors own 5.05% of the company's stock.
United Microelectronics Price Performance
Shares of United Microelectronics stock traded up $0.11 during mid-day trading on Friday, reaching $7.68. 6,505,323 shares of the stock traded hands, compared to its average volume of 12,800,593. The business has a 50-day moving average of $7.62 and a 200 day moving average of $6.85. United Microelectronics Corporation has a fifty-two week low of $5.61 and a fifty-two week high of $8.95. The stock has a market capitalization of $19.28 billion, a PE ratio of 14.21, a PEG ratio of 1.62 and a beta of 1.14. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.11.
United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). United Microelectronics had a net margin of 18.97% and a return on equity of 12.10%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $57.63 billion. During the same period in the prior year, the business posted $0.13 EPS. United Microelectronics's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that United Microelectronics Corporation will post 0.51 EPS for the current year.
United Microelectronics Increases Dividend
The business also recently declared an annual dividend, which will be paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th will be issued a $0.3661 dividend. This represents a dividend yield of 4.6%. 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. United Microelectronics's dividend payout ratio (DPR) is currently 68.52%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on UMC shares. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. The Goldman Sachs Group reissued a "sell" rating on shares of United Microelectronics in a report on Friday, May 23rd. Finally, Wedbush cut United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, United Microelectronics has an average rating of "Hold" and a consensus target price of $7.40.
Check Out Our Latest Stock Analysis on UMC
About United Microelectronics
(
Free Report)
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.
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