OLD Mission Capital LLC Sells 59,409 Shares of United Microelectronics Corporation $UMC

Key Points

• OLD Mission Capital LLC reduced its stake in United Microelectronics Corporation by 36.6%, holding 102,975 shares valued at $736,000 after selling 59,409 shares during the first quarter.
• United Microelectronics missed analysts' earnings estimates, reporting $0.12 EPS for the quarter compared to a consensus of $0.14, with total revenue of $1.98 billion.
• The company announced an increased annual dividend of $0.3661 per share, representing a yield of 460.0%, signaling positive changes in its dividend strategy.

OLD Mission Capital LLC reduced its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 36.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,975 shares of the semiconductor company's stock after selling 59,409 shares during the quarter. OLD Mission Capital LLC's holdings in United Microelectronics were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of United Microelectronics by 3,091.8% during the fourth quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock worth $92,998,000 after buying an additional 13,880,446 shares during the last quarter. Northern Trust Corp grew its holdings in United Microelectronics by 238.8% during the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock worth $20,667,000 after acquiring an additional 2,244,574 shares during the period. AQR Capital Management LLC raised its position in shares of United Microelectronics by 958.3% during the 4th quarter. AQR Capital Management LLC now owns 982,840 shares of the semiconductor company's stock valued at $6,379,000 after acquiring an additional 889,972 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of United Microelectronics in the 4th quarter valued at $4,009,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of United Microelectronics in the 1st quarter worth $3,763,000. Institutional investors own 5.05% of the company's stock.

United Microelectronics Trading Down 1.2%

Shares of UMC stock traded down $0.09 on Friday, hitting $6.80. The stock had a trading volume of 4,751,803 shares, compared to its average volume of 6,016,738. The firm has a market cap of $17.07 billion, a P/E ratio of 13.87, a PEG ratio of 4.08 and a beta of 1.06. United Microelectronics Corporation has a twelve month low of $5.61 and a twelve month high of $8.86. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $7.10 and a two-hundred day moving average price of $7.15.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $1.98 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.17 earnings per share. As a group, analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About United Microelectronics

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.