United Microelectronics Corporation (NYSE:UMC) Given Average Rating of "Hold" by Brokerages

Key Points

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Shares of United Microelectronics Corporation (NYSE:UMC - Get Free Report) have been assigned an average rating of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.40.

Separately, The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a report on Friday, May 23rd.

Hedge Funds Weigh In On United Microelectronics

A number of hedge funds have recently made changes to their positions in UMC. LPL Financial LLC raised its stake in shares of United Microelectronics by 3.3% in the 4th quarter. LPL Financial LLC now owns 61,852 shares of the semiconductor company's stock valued at $401,000 after buying an additional 1,963 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of United Microelectronics in the 4th quarter valued at $183,000. Jump Financial LLC raised its stake in shares of United Microelectronics by 709.8% in the 4th quarter. Jump Financial LLC now owns 91,602 shares of the semiconductor company's stock valued at $594,000 after buying an additional 80,291 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of United Microelectronics by 236.3% in the 4th quarter. GeoWealth Management LLC now owns 13,518 shares of the semiconductor company's stock valued at $88,000 after buying an additional 9,498 shares in the last quarter. Finally, Freedom Investment Management Inc. raised its stake in shares of United Microelectronics by 14.7% in the 4th quarter. Freedom Investment Management Inc. now owns 23,139 shares of the semiconductor company's stock valued at $150,000 after buying an additional 2,969 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

United Microelectronics Stock Performance

Shares of NYSE:UMC traded up $0.0150 on Tuesday, hitting $6.7550. 8,352,334 shares of the company were exchanged, compared to its average volume of 8,445,538. The company's 50 day moving average price is $7.36 and its two-hundred day moving average price is $7.12. United Microelectronics has a one year low of $5.61 and a one year high of $8.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.77. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 4.07 and a beta of 1.01.

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

United Microelectronics Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, June 24th were paid a $0.3661 dividend. The ex-dividend date was Tuesday, June 24th. This represents a dividend yield of 460.0%. This is a positive change from United Microelectronics's previous annual dividend of $0.36. United Microelectronics's dividend payout ratio is currently 75.51%.

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.