United Microelectronics Corporation $UMC Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in United Microelectronics Corporation (UMC) by 1.5%, now owning approximately 15.7 million shares valued at $112.3 million.
• United Microelectronics recently missed earnings estimates for the quarter, reporting $0.12 EPS against a consensus estimate of $0.14.
• The company declared an annual dividend of $0.3661 per share, marking an increase from the previous year's dividend.

Vanguard Group Inc. cut its stake in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,712,184 shares of the semiconductor company's stock after selling 235,570 shares during the quarter. Vanguard Group Inc. owned approximately 0.63% of United Microelectronics worth $112,342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of United Microelectronics during the first quarter worth about $29,000. Farther Finance Advisors LLC boosted its holdings in United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 2,859 shares in the last quarter. Choreo LLC acquired a new position in United Microelectronics in the first quarter valued at approximately $80,000. GAMMA Investing LLC boosted its holdings in United Microelectronics by 262.9% in the first quarter. GAMMA Investing LLC now owns 12,108 shares of the semiconductor company's stock valued at $87,000 after purchasing an additional 8,772 shares in the last quarter. Finally, Adero Partners LLC acquired a new position in United Microelectronics in the first quarter valued at approximately $89,000. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Price Performance

United Microelectronics stock opened at $6.7550 on Friday. United Microelectronics Corporation has a 12 month low of $5.61 and a 12 month high of $8.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 1.46. The business has a 50 day simple moving average of $7.36 and a 200-day simple moving average of $7.11. The stock has a market capitalization of $16.97 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 4.05 and a beta of 1.01.

United Microelectronics (NYSE:UMC - Get Free Report) last released its quarterly 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). United Microelectronics had a return on equity of 11.05% and a net margin of 16.71%.The company had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $61.88 billion. During the same quarter last year, the company earned $0.17 EPS. 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. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.3661 per share. This represents a dividend yield of 460.0%. This is a boost from United Microelectronics's previous annual dividend of $0.36. The ex-dividend date was Tuesday, June 24th. United Microelectronics's dividend payout ratio (DPR) is currently 75.51%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group reiterated 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding UMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Microelectronics Corporation (NYSE:UMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.