Moran Wealth Management LLC Increases Position in United Microelectronics Corporation (NYSE:UMC)

Moran Wealth Management LLC raised its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 661,347 shares of the semiconductor company's stock after buying an additional 44,572 shares during the quarter. Moran Wealth Management LLC's holdings in United Microelectronics were worth $4,729,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in UMC. Farther Finance Advisors LLC lifted its stake in shares of United Microelectronics by 134.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 2,859 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $69,000. Callan Family Office LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $70,000. SBI Securities Co. Ltd. bought a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $73,000. Finally, Natural Investments LLC bought a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $74,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UMC shares. The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Finally, Citigroup raised United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, March 21st. One investment 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 stock. Based on data from MarketBeat, United Microelectronics has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Trading Up 1.4%

Shares of UMC stock traded up $0.11 on Friday, reaching $7.68. 6,505,323 shares of the company's stock were exchanged, compared to its average volume of 12,806,385. 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 market capitalization of $19.28 billion, a PE ratio of 14.21, a P/E/G ratio of 1.64 and a beta of 1.15. The company's fifty day simple moving average is $7.64 and its 200 day simple moving average is $6.86.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate 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 company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. As a group, analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.3661 per share. This is an increase from United Microelectronics's previous annual dividend of $0.36. This represents a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, June 24th. United Microelectronics's dividend payout ratio (DPR) is presently 68.52%.

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.