Nykredit A S Purchases Shares of 350,050 United Microelectronics Corporation $UMC

Key Points

• Nykredit A/S acquired 350,050 UMC shares during the second quarter, worth approximately $9.5 million. Several other hedge funds also increased their positions, though institutional investors collectively own just 5.05% of the stock.
• Analyst sentiment is mixed: upgrades from Zacks Research, Wall Street Zen and Arete Research were offset by bearish views, leaving UMC with a consensus “Hold” rating and an $8.60 average price target.
• UMC reported $0.53 in quarterly EPS on $2.16 billion in revenue and raised its annual dividend to $0.4122 per share. The stock opened at $20.79, compared with a 52-week range of $6.72 to $28.96.

Nykredit A S acquired a new position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 350,050 shares of the semiconductor company's stock, valued at approximately $9,525,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in United Microelectronics by 873.8% during the 4th quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company's stock worth $74,389,000 after acquiring an additional 8,492,466 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of United Microelectronics by 832.5% during the third quarter. Two Sigma Investments LP now owns 3,530,564 shares of the semiconductor company's stock worth $26,762,000 after purchasing an additional 3,151,936 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of United Microelectronics by 50.7% during the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company's stock worth $64,283,000 after purchasing an additional 2,826,486 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of United Microelectronics during the third quarter valued at approximately $21,235,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of United Microelectronics by 2,011.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,980,820 shares of the semiconductor company's stock valued at $15,569,000 after purchasing an additional 1,886,996 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on UMC shares. Zacks Research raised United Microelectronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded United Microelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Arete Research raised United Microelectronics from a "neutral" rating to a "buy" rating in a report on Monday, August 10th. 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. Finally, BNP Paribas Exane reaffirmed an "underperform" rating on shares of United Microelectronics in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.60.

United Microelectronics Stock Performance

UMC stock opened at $20.79 on Friday. United Microelectronics Corporation has a 1-year low of $6.72 and a 1-year high of $28.96. The business's 50-day moving average price is $20.92 and its two-hundred day moving average price is $16.69. The firm has a market cap of $52.34 billion, a PE ratio of 19.43, a P/E/G ratio of 0.49 and a beta of 1.59. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share for the quarter. The business had revenue of $2.16 billion for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%. As a group, research analysts forecast that United Microelectronics Corporation will post 1.23 earnings per share for the current 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 a positive change from United Microelectronics's previous annual dividend of $0.37. This represents a dividend yield of 166.0%. The ex-dividend date of this dividend was Wednesday, July 8th. United Microelectronics's payout ratio is currently 28.97%.

United Microelectronics Company Profile

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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