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US Bancorp DE Increases Stock Holdings in United Microelectronics Corporation (NYSE:UMC)

United Microelectronics logo with Computer and Technology background

Key Points

  • US Bancorp DE increased its stake in United Microelectronics Corporation by 114%, holding 262,000 shares worth approximately $1.87 million.
  • United Microelectronics recently paid a dividend of $0.3661 per share, representing a 460% dividend yield, an increase from the previous year's annual dividend.
  • Despite missing quarterly earnings estimates with $0.12 EPS, analysts have a consensus rating of "Hold" for the stock, with an average target price of $7.40.
  • Want stock alerts on United Microelectronics? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

US Bancorp DE lifted its holdings in United Microelectronics Corporation (NYSE:UMC - Free Report) by 114.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 262,000 shares of the semiconductor company's stock after buying an additional 139,592 shares during the quarter. US Bancorp DE's holdings in United Microelectronics were worth $1,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of United Microelectronics by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,947,754 shares of the semiconductor company's stock worth $103,501,000 after buying an additional 750,472 shares during the period. Millennium Management LLC raised its holdings in shares of United Microelectronics by 3,091.8% in the fourth quarter. Millennium Management LLC now owns 14,329,393 shares of the semiconductor company's stock worth $92,998,000 after buying an additional 13,880,446 shares during the period. Barclays PLC raised its holdings in shares of United Microelectronics by 10.7% in the fourth quarter. Barclays PLC now owns 3,547,867 shares of the semiconductor company's stock worth $23,026,000 after buying an additional 341,937 shares during the period. Northern Trust Corp increased its holdings in United Microelectronics by 238.8% during the 4th quarter. Northern Trust Corp now owns 3,184,444 shares of the semiconductor company's stock worth $20,667,000 after purchasing an additional 2,244,574 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in United Microelectronics by 150.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,021,849 shares of the semiconductor company's stock worth $13,122,000 after purchasing an additional 1,215,849 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Up 1.1%

NYSE UMC traded up $0.08 during midday trading on Tuesday, hitting $6.80. 1,968,164 shares of the company traded hands, compared to its average volume of 11,660,180. 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 company has a market cap of $17.07 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.04 and a beta of 1.01. The company's 50-day simple moving average is $7.54 and its 200-day simple moving average is $7.06. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.95.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. During the same period last year, the business posted $0.17 EPS. As a group, equities research analysts forecast that United Microelectronics Corporation will post 0.51 earnings per share for the current year.

United Microelectronics Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on UMC shares. The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a report on Friday, May 23rd. Wedbush downgraded United Microelectronics from an "outperform" rating to a "neutral" rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.40.

Read Our Latest Research Report on United Microelectronics

United Microelectronics Company Profile

(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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Institutional Ownership by Quarter for United Microelectronics (NYSE:UMC)

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