Rhumbline Advisers cut its stake in United Microelectronics Co. (NYSE:UMC - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718,566 shares of the semiconductor company's stock after selling 39,347 shares during the period. Rhumbline Advisers' holdings in United Microelectronics were worth $5,138,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of United Microelectronics by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock valued at $103,501,000 after purchasing an additional 750,472 shares during the last quarter. Millennium Management LLC increased its stake in shares of United Microelectronics by 3,091.8% in the 4th quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock valued at $92,998,000 after purchasing an additional 13,880,446 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of United Microelectronics by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,300,362 shares of the semiconductor company's stock valued at $47,379,000 after purchasing an additional 237,024 shares during the last quarter. Barclays PLC increased its stake in shares of United Microelectronics by 10.7% in the 4th quarter. Barclays PLC now owns 3,547,867 shares of the semiconductor company's stock valued at $23,026,000 after purchasing an additional 341,937 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 2,244,574 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently issued reports on UMC. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.40.
View Our Latest Research Report on United Microelectronics
United Microelectronics Price Performance
UMC stock traded up $0.18 during midday trading on Monday, reaching $8.30. 11,576,672 shares of the stock were exchanged, compared to its average volume of 12,784,102. The company has a fifty day moving average price of $7.43 and a 200 day moving average price of $6.78. United Microelectronics Co. has a 52 week low of $5.61 and a 52 week high of $9.00. The stock has a market capitalization of $20.85 billion, a PE ratio of 14.31, a P/E/G ratio of 4.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.19 and a quick ratio of 1.76.
United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $57.63 billion. During the same quarter last year, the firm posted $0.13 EPS. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that United Microelectronics Co. will post 0.51 EPS for the current fiscal year.
United Microelectronics Increases Dividend
The business also recently declared an annual dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Tuesday, June 24th will be given a $0.3661 dividend. This represents a dividend yield of 4.6%. The ex-dividend date is Tuesday, June 24th. This is a positive change from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's payout ratio is 66.67%.
About United Microelectronics
(
Free Report)
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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