Quantbot Technologies LP Buys Shares of 293,319 United Microelectronics Corporation $UMC

Key Points

• Quantbot Technologies LP invested approximately $2.10 million in United Microelectronics Corporation by purchasing 293,319 shares, indicating a growing interest in the semiconductor sector.
• United Microelectronics reported earnings per share of $0.12 for the last quarter, missing analysts' expectations of $0.14, while the company had revenue of $1.98 billion.
• The firm recently declared an annual dividend of $0.3661, a slight increase from the previous year's dividend, representing a yield of 460.0%.

Quantbot Technologies LP acquired a new stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 293,319 shares of the semiconductor company's stock, valued at approximately $2,097,000.

Several other institutional investors also recently modified their holdings of UMC. Hsbc Holdings PLC purchased a new position in United Microelectronics in the fourth quarter worth about $242,000. Dimensional Fund Advisors LP boosted its position in United Microelectronics by 20.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,288,513 shares of the semiconductor company's stock worth $8,362,000 after purchasing an additional 214,783 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in United Microelectronics in the first quarter worth about $29,000. GAMMA Investing LLC boosted its position in United Microelectronics by 262.9% in the first quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock worth $87,000 after purchasing an additional 8,772 shares during the last quarter. Finally, Northern Trust Corp boosted its position in United Microelectronics by 238.8% in the fourth quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock worth $20,667,000 after purchasing an additional 2,244,574 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

United Microelectronics Price Performance

NYSE UMC traded down $0.05 during trading on Wednesday, hitting $6.70. 958,305 shares of the stock traded hands, compared to its average volume of 11,360,951. The company has a market capitalization of $16.82 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 4.00 and a beta of 1.01. The firm has a 50-day simple moving average of $7.30 and a 200-day simple moving average of $7.12. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. United Microelectronics Corporation has a 12-month low of $5.61 and a 12-month high of $8.86.

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

United Microelectronics Increases Dividend

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.