United Microelectronics Corporation (NYSE:UMC) Receives $7.40 Consensus Target Price from Analysts

Key Points

• United Microelectronics Corporation (UMC) has received an average analyst rating of "Hold," with one sell recommendation, three holds, and one strong buy, and an average 12-month target price of $7.40.
• The company recently declared a dividend increase to $0.3661 per share, resulting in a yield of 4.6% and a payout ratio of 68.52%.
• United Microelectronics reported a net margin of 18.97% for the last quarter, with earnings per share of $0.09, missing estimates of $0.10, despite year-over-year revenue growth of 1.9% to $1.78 billion.

United Microelectronics Corporation (NYSE:UMC - Get Free Report) has received a consensus recommendation of "Hold" from the five ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.40.

A number of equities analysts have weighed in on UMC shares. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group reiterated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd.

United Microelectronics Stock Performance

UMC stock traded down $0.03 during midday trading on Friday, reaching $7.30. The stock had a trading volume of 5,666,579 shares, compared to its average volume of 5,754,465. The stock has a market cap of $18.33 billion, a PE ratio of 13.51, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.64. The firm has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $7.00. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $8.95.

United Microelectronics (NYSE:UMC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $57.63 billion. United Microelectronics had a return on equity of 12.10% and a net margin of 18.97%. The business's revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. As a group, equities research analysts anticipate that United Microelectronics will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th were issued a $0.3661 dividend. This represents a yield of 4.6%. 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. United Microelectronics's payout ratio is presently 68.52%.

Institutional Investors Weigh In On United Microelectronics

Institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in United Microelectronics in the 1st quarter worth about $29,000. 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. Choreo LLC acquired a new position in shares of United Microelectronics during the 1st quarter worth approximately $80,000. Valeo Financial Advisors LLC purchased a new stake in shares of United Microelectronics during the 2nd quarter valued at approximately $82,000. Finally, Savvy Advisors Inc. purchased a new stake in shares of United Microelectronics during the 4th quarter valued at approximately $86,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.