OLD Mission Capital LLC Has $736,000 Stock Holdings in 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 trimmed its position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 36.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,975 shares of the semiconductor company's stock after selling 59,409 shares during the period. OLD Mission Capital LLC's holdings in United Microelectronics were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UMC. Raymond James Financial Inc. acquired a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $183,000. First Trust Advisors LP acquired a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $949,000. Dimensional Fund Advisors LP raised its position in shares of United Microelectronics by 20.0% in 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 acquiring an additional 214,783 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $242,000. Finally, Northern Trust Corp raised its position in shares of United Microelectronics by 238.8% in the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock valued at $20,667,000 after acquiring an additional 2,244,574 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Price Performance

NYSE UMC opened at $6.59 on Tuesday. The business has a 50 day simple moving average of $7.17 and a 200 day simple moving average of $7.14. United Microelectronics Corporation has a 52-week low of $5.61 and a 52-week high of $8.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 3.95 and a beta of 1.06.

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

United Microelectronics Increases Dividend

The firm also recently announced an annual dividend, which was paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th were paid a dividend of $0.3661 per share. This represents a yield of 460.0%. The ex-dividend date of this dividend was Tuesday, June 24th. This is a positive change from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's dividend payout ratio (DPR) is currently 75.51%.

Analyst Upgrades and Downgrades

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

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.

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