Victory Capital Management Inc. Has $750,000 Stock Position in United Microelectronics Corporation (NYSE:UMC)

Key Points

• Victory Capital Management Inc. has reduced its position in United Microelectronics Corporation by 29.8%, holding 104,945 shares valued at approximately $750,000 after selling 44,512 shares in the first quarter.
• Analysts currently rate United Microelectronics shares with a consensus of "Hold" and a price target of $7.40, with mixed ratings including one strong buy and one sell.
• The company recently increased its annual dividend to $0.3661 per share, up from $0.36, representing a substantial yield of 460.0%.

Victory Capital Management Inc. reduced its stake in United Microelectronics Corporation (NYSE:UMC - Free Report) by 29.8% during the first quarter, according to the company in its most recent disclosure 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 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in UMC. Golden State Wealth Management LLC bought a new position in shares of United Microelectronics during the 1st quarter worth $29,000. Farther Finance Advisors LLC lifted its position in United Microelectronics by 134.8% in the 1st 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 during the last quarter. GAMMA Investing LLC lifted its position 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 during the last quarter. Adero Partners LLC bought a new stake in United Microelectronics in the first quarter valued at approximately $89,000. Finally, Infini Capital Management Ltd bought a new stake in United Microelectronics in the first quarter valued at approximately $92,000. 5.05% of the stock is owned by institutional investors and hedge funds.

United Microelectronics Trading Up 0.1%

Shares of NYSE:UMC traded up $0.01 during midday trading on Tuesday, reaching $6.82. The company's stock had a trading volume of 2,280,850 shares, compared to its average volume of 11,845,840. The business has a 50 day moving average price of $7.64 and a 200 day moving average price of $7.03. United Microelectronics Corporation has a 1 year low of $5.61 and a 1 year high of $8.95. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.12. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 4.09 and a beta of 1.01.

United Microelectronics (NYSE:UMC - Get Free Report) last posted 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). United Microelectronics had a net margin of 16.71% and a return on equity of 11.05%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $61.88 billion. During the same period last year, the company posted $0.17 earnings per share. Research analysts forecast that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Tuesday, June 24th were issued a $0.3661 dividend. This is a positive change 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 currently 75.51%.

Wall Street Analyst Weigh In

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

United Microelectronics Company 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.