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

Key Points

• Nykredit A/S acquired 350,050 UMC shares in the second quarter, valued at approximately $9.5 million. Other institutional investors also increased or initiated positions, though institutional ownership remains relatively low at 5.05%.
• UMC reported quarterly EPS of $0.53 on revenue of $2.16 billion, with a 21.0% return on equity and 33.18% net margin. The company also increased its annual dividend to $0.4122 per share from $0.37.
• Analyst sentiment is mixed: recent upgrades include “strong buy” and “buy” ratings, while other analysts remain bearish. Overall, the stock carries a “Hold” consensus rating with an average price target of $8.60.

Nykredit A S acquired a new position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 350,050 shares of the semiconductor company's stock, valued at approximately $9,525,000.

A number of other large investors also recently made changes to their positions in UMC. Continuum Advisory LLC bought a new stake in United Microelectronics in the 2nd quarter valued at $28,000. TD Private Client Wealth LLC bought a new position in United Microelectronics during the 4th quarter worth $32,000. CoreCap Advisors LLC lifted its holdings in shares of United Microelectronics by 271.0% during the second quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of United Microelectronics in the second quarter valued at about $41,000. Finally, Allworth Financial LP boosted its position in shares of United Microelectronics by 20.5% in the fourth quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company's stock valued at $69,000 after acquiring an additional 1,498 shares during the period. Institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Performance

NYSE:UMC opened at $24.63 on Monday. United Microelectronics Corporation has a twelve month low of $6.97 and a twelve month high of $28.96. The company has a quick ratio of 1.81, a current ratio of 2.17 and a debt-to-equity ratio of 0.10. The stock's 50-day simple moving average is $20.36 and its 200 day simple moving average is $17.59. The firm has a market capitalization of $62.01 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.59.

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

United Microelectronics Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Wednesday, July 8th were paid a dividend of $0.4122 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This is a boost from United Microelectronics's previous annual dividend of $0.37. This represents a dividend yield of 166.0%. United Microelectronics's payout ratio is presently 28.04%.

Wall Street Analyst Weigh In

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

About United Microelectronics

United Microelectronics Corporation NYSE: UMC is a Taiwan-based semiconductor foundry that manufactures integrated circuits for customers that design and market their own chips. The company provides wafer fabrication services rather than selling semiconductor products under its own consumer brand.

UMC supports a broad range of applications, including communications, automotive systems, industrial equipment, consumer electronics and computing. Its manufacturing portfolio includes logic and mixed-signal technologies, radio-frequency processes, embedded high-voltage solutions, display-driver chips, image sensors and other specialty semiconductor technologies.

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