Victory Capital Management Inc. Cuts Stock Position in United Microelectronics Corporation (NYSE:UMC)

Victory Capital Management Inc. trimmed its holdings in shares of United Microelectronics Corporation (NYSE:UMC - Free Report) by 29.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,945 shares of the semiconductor company's stock after selling 44,512 shares during the quarter. Victory Capital Management Inc.'s holdings in United Microelectronics were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UMC. Mercer Global Advisors Inc. ADV lifted its stake in shares of United Microelectronics by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,848 shares of the semiconductor company's stock worth $233,000 after buying an additional 1,599 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in United Microelectronics by 8.2% in the 1st quarter. Sivia Capital Partners LLC now owns 23,380 shares of the semiconductor company's stock valued at $167,000 after acquiring an additional 1,773 shares during the last quarter. QRG Capital Management Inc. lifted its stake in United Microelectronics by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 63,408 shares of the semiconductor company's stock worth $453,000 after purchasing an additional 1,891 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of United Microelectronics by 3.3% during the 4th quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock worth $401,000 after purchasing an additional 1,963 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of United Microelectronics by 134.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 2,859 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

United Microelectronics Stock Performance

NYSE:UMC opened at $6.81 on Friday. The company's 50-day moving average is $7.66 and its two-hundred day moving average is $7.02. United Microelectronics Corporation has a 1-year low of $5.61 and a 1-year high of $8.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 2.15. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 4.11 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). The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.17 EPS. Analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, June 24th were paid a $0.3661 dividend. 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 dividend yield of 460.0%. United Microelectronics's dividend payout ratio is currently 75.51%.

Analysts Set New Price Targets

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

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.

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