Citigroup Inc. Has $43.12 Million Stock Position in United Microelectronics Corporation (NYSE:UMC)

Key Points

• Citigroup Inc. has increased its stake in United Microelectronics Corporation by 3.4%, acquiring an additional 196,262 shares, bringing its total ownership to approximately 6.03 million shares valued at $43.1 million.
• United Microelectronics reported a $0.12 earnings per share for the last quarter, which was below the consensus estimate of $0.14, alongside a revenue of $1.98 billion compared to expectations of $61.88 billion.
• The company recently announced a dividend increase to $0.3661 per share, representing a significant yield of 460.0%, up from the previous annual dividend of $0.36.

Citigroup Inc. boosted its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,030,617 shares of the semiconductor company's stock after buying an additional 196,262 shares during the period. Citigroup Inc. owned about 0.24% of United Microelectronics worth $43,119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of UMC. Golden State Wealth Management LLC acquired a new stake in United Microelectronics during the first quarter worth $29,000. Farther Finance Advisors LLC boosted its stake in United Microelectronics by 134.8% during the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock worth $35,000 after buying an additional 2,859 shares in the last quarter. Choreo LLC acquired a new stake in United Microelectronics during the first quarter worth $80,000. Savvy Advisors Inc. acquired a new stake in United Microelectronics during the fourth quarter worth $86,000. Finally, GAMMA Investing LLC boosted its stake in United Microelectronics by 262.9% during the first quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock worth $87,000 after buying an additional 8,772 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, United Microelectronics currently has a consensus rating of "Hold" and a consensus target price of $7.40.

United Microelectronics Price Performance

Shares of NYSE:UMC traded down $0.05 during trading on Friday, reaching $6.85. The stock had a trading volume of 1,694,686 shares, compared to its average volume of 11,589,916. The stock has a market capitalization of $17.20 billion, a PE ratio of 13.97, a P/E/G ratio of 4.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.95. The business's 50-day moving average price is $7.49 and its 200 day moving average price is $7.07.

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 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 return on equity of 11.05% and a net margin of 16.71%. During the same period in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

United Microelectronics Increases Dividend

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

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.