RFG Advisory LLC Cuts Stock Position in United Microelectronics Corporation $UMC

Key Points

• RFG Advisory LLC cut its United Microelectronics position by 84.6% in the second quarter, selling 46,734 shares and retaining 8,496 shares valued at approximately $231,000.
• Other institutional investors showed mixed activity: Sei Investments and QRG Capital increased their holdings, while several firms initiated new positions. Institutional investors collectively own 5.05% of UMC.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the overall consensus is Hold, with an average price target of $8.60. UMC reported quarterly revenue of $2.16 billion and EPS of $0.53.

RFG Advisory LLC reduced its position in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 84.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,496 shares of the semiconductor company's stock after selling 46,734 shares during the quarter. RFG Advisory LLC's holdings in United Microelectronics were worth $231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in United Microelectronics by 508.6% during the first quarter. Sei Investments Co. now owns 169,183 shares of the semiconductor company's stock valued at $1,519,000 after buying an additional 141,385 shares during the period. QRG Capital Management Inc. lifted its holdings in United Microelectronics by 115.3% in the 1st quarter. QRG Capital Management Inc. now owns 86,927 shares of the semiconductor company's stock worth $781,000 after purchasing an additional 46,549 shares in the last quarter. Lazard Asset Management LLC purchased a new position in United Microelectronics during the first quarter valued at $628,000. Matthews International Capital Management LLC bought a new position in United Microelectronics during the first quarter valued at approximately $8,779,000. Finally, Delta Global Management LP bought a new position in United Microelectronics during the first quarter valued at $1,435,000. Institutional investors own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

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

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $21.61 on Wednesday. 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 firm has a market cap of $54.40 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.51 and a beta of 1.59. The business's fifty day simple moving average is $20.41 and its 200-day simple moving average is $17.31. United Microelectronics Corporation has a 52 week low of $6.82 and a 52 week high of $28.96.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter. The company 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%. Equities analysts forecast that United Microelectronics Corporation will post 1.23 earnings per share for the current year.

United Microelectronics Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, August 6th. Investors of record on Wednesday, July 8th were issued a $0.4122 dividend. This represents a yield of 166.0%. This is a positive change from United Microelectronics's previous annual dividend of $0.37. The ex-dividend date of this dividend was Wednesday, July 8th. United Microelectronics's dividend payout ratio is 28.97%.

United Microelectronics Company Profile

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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