Wellington Management Group LLP Purchases 133,779 Shares of United Microelectronics Corporation $UMC

Key Points

• Wellington Management Group increased its United Microelectronics stake by 137.6% in the second quarter, purchasing 133,779 additional shares. Its 231,006-share position was valued at approximately $6.3 million at quarter-end.
• UMC reported quarterly revenue of $2.16 billion and earnings of $0.53 per share, alongside a 21% return on equity and a 33.18% net margin. The stock opened at $22.64, compared with a 52-week range of $6.72 to $28.96.
• Analyst sentiment remains mixed, with ratings ranging from strong buy to sell and an overall “Hold” consensus. The company also increased its annual dividend to $0.4122 per share from $0.37.

Wellington Management Group LLP boosted its holdings in United Microelectronics Corporation (NYSE:UMC - Free Report) by 137.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,006 shares of the semiconductor company's stock after buying an additional 133,779 shares during the quarter. Wellington Management Group LLP's holdings in United Microelectronics were worth $6,286,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UMC. E Wealth Partners LLC bought a new position in shares of United Microelectronics during the second quarter valued at $219,000. Public Employees Retirement System of Ohio acquired a new position in shares of United Microelectronics during the second quarter worth $711,000. Trust Co. of Vermont bought a new stake in shares of United Microelectronics in the second quarter worth $41,000. Heck Capital Advisors LLC bought a new stake in shares of United Microelectronics in the second quarter worth $399,000. Finally, Valeo Financial Advisors LLC acquired a new stake in United Microelectronics in the second quarter valued at $329,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

United Microelectronics Stock Performance

UMC stock opened at $22.64 on Thursday. The firm has a market cap of $56.99 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 0.51 and a beta of 1.59. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $20.62 and a 200-day moving average price of $16.98. United Microelectronics Corporation has a 1-year low of $6.72 and a 1-year high of $28.96.

United Microelectronics (NYSE:UMC - Get Free Report) last released its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The business had revenue of $2.16 billion during the quarter. As a group, equities research analysts expect that United Microelectronics Corporation will post 1.23 earnings per share for the current year.

United Microelectronics Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Stockholders of record on Wednesday, July 8th were given a dividend of $0.4122 per share. This is a boost from United Microelectronics's previous annual dividend of $0.37. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a dividend yield of 166.0%. United Microelectronics's payout ratio is currently 28.97%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on UMC shares. Weiss Ratings raised United Microelectronics from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Wall Street Zen upgraded United Microelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. BNP Paribas Exane reiterated an "underperform" rating on shares of United Microelectronics in a report on Thursday, May 28th. Zacks Research raised shares of United Microelectronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, Arete Research upgraded shares of United Microelectronics from a "neutral" rating to a "buy" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, United Microelectronics presently has an average rating of "Hold" and an average target price of $8.60.

United Microelectronics Company Profile

United Microelectronics Corporation NYSE: UMC is a Taiwan-based semiconductor foundry that manufactures integrated circuits for customers that design and market their own chips. The company provides wafer fabrication services rather than selling semiconductor products under its own consumer brand.

UMC supports a broad range of applications, including communications, automotive systems, industrial equipment, consumer electronics and computing. Its manufacturing portfolio includes logic and mixed-signal technologies, radio-frequency processes, embedded high-voltage solutions, display-driver chips, image sensors and other specialty semiconductor technologies.

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