Northern Trust Corp Buys 150,636 Shares of United Microelectronics Corporation $UMC

Key Points

• Northern Trust Corp increased its stake in United Microelectronics Corporation (UMC) by 4.7% during the first quarter, acquiring an additional 150,636 shares for a total of approximately 3.34 million shares valued at $23.8 million.
• United Microelectronics reported earnings of $0.12 per share for the last quarter, missing analysts' estimates, with a revenue of $1.98 billion that significantly diverged from the expected $61.88 billion.
• The company declared an annual dividend of $0.3661 per share, reflecting a substantial increase from its previous dividend, leading to a remarkable 460% yield.

Northern Trust Corp raised its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,335,080 shares of the semiconductor company's stock after purchasing an additional 150,636 shares during the period. Northern Trust Corp owned 0.13% of United Microelectronics worth $23,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in United Microelectronics during the fourth quarter valued at approximately $183,000. First Trust Advisors LP bought a new stake in shares of United Microelectronics in the 4th quarter worth about $949,000. Dimensional Fund Advisors LP lifted its holdings in United Microelectronics by 20.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,288,513 shares of the semiconductor company's stock valued at $8,362,000 after buying an additional 214,783 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of United Microelectronics during the fourth quarter valued at approximately $242,000. Finally, AQR Capital Management LLC raised its holdings in shares of United Microelectronics by 958.3% in the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock valued at $6,379,000 after purchasing an additional 889,972 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Stock Down 1.7%

Shares of UMC traded down $0.12 during mid-day trading on Friday, reaching $6.77. 1,133,834 shares of the stock traded hands, compared to its average volume of 11,125,050. United Microelectronics Corporation has a 12-month low of $5.61 and a 12-month high of $8.86. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 3.99 and a beta of 1.06. The stock has a fifty day simple moving average of $7.12 and a 200 day simple moving average of $7.14.

United Microelectronics (NYSE:UMC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. During the same quarter last year, the business posted $0.17 EPS. Sell-side analysts expect that United Microelectronics Corporation will post 0.51 EPS for the current fiscal year.

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.