Citigroup Inc. Has $43.12 Million Stock Holdings 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 position in United Microelectronics Corporation (NYSE:UMC - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,030,617 shares of the semiconductor company's stock after buying an additional 196,262 shares during the quarter. Citigroup Inc. owned approximately 0.24% of United Microelectronics worth $43,119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in United Microelectronics by 7.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 90,510 shares of the semiconductor company's stock valued at $647,000 after buying an additional 6,659 shares during the last quarter. US Bancorp DE grew its stake in United Microelectronics by 114.0% in the first quarter. US Bancorp DE now owns 262,000 shares of the semiconductor company's stock valued at $1,873,000 after purchasing an additional 139,592 shares in the last quarter. Natixis Advisors LLC grew its stake in United Microelectronics by 95.9% in the first quarter. Natixis Advisors LLC now owns 172,220 shares of the semiconductor company's stock valued at $1,231,000 after purchasing an additional 84,306 shares in the last quarter. Canopy Partners LLC grew its stake in United Microelectronics by 8.0% in the first quarter. Canopy Partners LLC now owns 26,781 shares of the semiconductor company's stock valued at $191,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in United Microelectronics in the first quarter valued at approximately $1,459,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wedbush downgraded United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Performance

Shares of NYSE UMC traded up $0.05 during midday trading on Thursday, hitting $6.89. 7,517,311 shares of the company's stock were exchanged, compared to its average volume of 11,640,820. The firm has a market capitalization of $17.30 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 4.09 and a beta of 1.01. The company's 50 day moving average price is $7.50 and its 200 day moving average price is $7.06. 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 $8.95.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $1.98 billion for 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 business posted $0.17 earnings per share. As a group, analysts predict that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently declared 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 of this dividend was Tuesday, June 24th. This is an increase from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's payout ratio is 75.51%.

About United Microelectronics

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.