NewEdge Advisors LLC Raises Stake in United Microelectronics Corporation $UMC

Key Points

• NewEdge Advisors increased its UMC stake by 8,430.6% in the first quarter, ending with 56,558 shares valued at approximately $508,000. Other institutional investors also initiated or expanded positions, though hedge funds collectively own only 5.05% of the company.
• Analyst sentiment remains mixed: several firms upgraded UMC to Buy or Strong Buy, while others maintained Sell ratings. MarketBeat reports a consensus rating of Hold and an average price target of $8.60.
• UMC reported quarterly revenue of $2.16 billion and EPS of $0.53, with a 33.18% net margin and 21% return on equity. The company also raised its annual dividend to $0.4122 per share, while the stock was trading at $18.33 and had a market capitalization of about $46.15 billion.

NewEdge Advisors LLC boosted its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 8,430.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,558 shares of the semiconductor company's stock after purchasing an additional 55,895 shares during the quarter. NewEdge Advisors LLC's holdings in United Microelectronics were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in UMC. Smartleaf Asset Management LLC purchased a new stake in shares of United Microelectronics in the second quarter worth about $27,000. TD Private Client Wealth LLC purchased a new position in United Microelectronics during the fourth quarter valued at approximately $32,000. Kestra Advisory Services LLC purchased a new position in United Microelectronics during the fourth quarter valued at approximately $52,000. Arax Advisory Partners grew its stake in United Microelectronics by 583.7% during the fourth quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company's stock valued at $68,000 after acquiring an additional 7,390 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in United Microelectronics by 20.5% during the 4th quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company's stock worth $69,000 after acquiring an additional 1,498 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Up 1.8%

UMC stock opened at $18.33 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $21.96 and its 200 day moving average is $16.02. The stock has a market cap of $46.15 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.60. United Microelectronics Corporation has a 1-year low of $6.56 and a 1-year high of $28.96.

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

United Microelectronics Increases Dividend

The business also recently disclosed 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 is an increase from United Microelectronics's previous annual dividend of $0.37. The ex-dividend date was Wednesday, July 8th. This represents a dividend yield of 166.0%. United Microelectronics's dividend payout ratio is 28.97%.

About United Microelectronics

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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