United Microelectronics Corporation (NYSE:UMC) Short Interest Up 2,132.8% in July

Key Points

• Short interest in United Microelectronics Corporation (UMC) surged by 2,132.8% in July, with total short interest reaching 56,490,000 shares as of July 15th.
• The company recently declared an annual dividend of $0.3661 per share, reflecting a positive increase from a previous dividend of $0.36.
• UMC's stock price decreased by 0.4%, closing at $6.82, while analysts have rated the stock mostly as a "Hold" with a consensus price target of $7.40.

United Microelectronics Corporation (NYSE:UMC - Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 56,490,000 shares, anincreaseof2,132.8% from the June 30th total of 2,530,000 shares. Based on an average daily volume of 8,890,000 shares, the short-interest ratio is currently 6.4 days. Based on an average daily volume of 8,890,000 shares, the short-interest ratio is currently 6.4 days.

United Microelectronics Stock Down 0.4%

Shares of NYSE:UMC traded down $0.03 on Friday, reaching $6.82. The company had a trading volume of 7,158,488 shares, compared to its average volume of 11,925,704. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $8.95. The firm's 50 day simple moving average is $7.68 and its 200-day simple moving average is $7.01. The firm has a market capitalization of $17.12 billion, a PE ratio of 13.92, a PEG ratio of 1.63 and a beta of 1.14. The company has a current ratio of 2.64, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11.

United Microelectronics Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in United Microelectronics during the 1st quarter worth $29,000. Farther Finance Advisors LLC grew its stake in 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 buying an additional 2,859 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in United Microelectronics during the 2nd quarter worth $82,000. Choreo LLC purchased a new stake in United Microelectronics during the 1st quarter valued at about $80,000. Finally, Viking Fund Management LLC purchased a new stake in United Microelectronics during the 2nd quarter valued at about $92,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UMC shares. Wedbush lowered United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a "sell" rating on shares of United Microelectronics in a research report on Friday, May 23rd. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.