United Microelectronics (NYSE:UMC) Stock Passes Above Fifty Day Moving Average of $2.09

United Microelectronics Corp (NYSE:UMC) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.09 and traded as high as $2.32. United Microelectronics shares last traded at $2.32, with a volume of 35,989 shares changing hands.

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Teck Resources from C$56.00 to C$55.00 in a research note on Wednesday, April 24th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. CLSA upgraded United Microelectronics from a “sell” rating to an “outperform” rating in a research note on Tuesday, June 25th. Macquarie initiated coverage on Lundin Mining in a research note on Wednesday. They issued a “neutral” rating for the company. Finally, Goldman Sachs Group set a €40.50 ($47.09) price objective on shares of Koninklijke Philips and gave the company a “buy” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $1.78.

The company has a current ratio of 2.79, a quick ratio of 2.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 31.57 and a beta of 0.95. The stock’s 50-day simple moving average is $2.10.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $32.58 billion for the quarter, compared to analysts’ expectations of $32.76 billion. United Microelectronics had a net margin of 3.33% and a return on equity of 2.31%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share.

The business also recently disclosed an annual dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, July 16th will be given a dividend of $0.0936 per share. The ex-dividend date is Monday, July 15th. This represents a dividend yield of 5.45%.

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its position in shares of United Microelectronics by 10.7% during the 4th quarter. Two Sigma Advisers LP now owns 749,730 shares of the semiconductor company’s stock worth $1,342,000 after purchasing an additional 72,200 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of United Microelectronics by 91.6% during the 1st quarter. Ballentine Partners LLC now owns 28,352 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 13,557 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in shares of United Microelectronics by 150.2% during the 1st quarter. First Allied Advisory Services Inc. now owns 26,126 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 15,684 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of United Microelectronics by 112.2% during the 4th quarter. Two Sigma Investments LP now owns 267,799 shares of the semiconductor company’s stock worth $479,000 after purchasing an additional 141,587 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of United Microelectronics by 23.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,775,653 shares of the semiconductor company’s stock worth $14,618,000 after purchasing an additional 1,497,157 shares in the last quarter. 5.32% of the stock is currently owned by institutional investors.

About United Microelectronics (NYSE:UMC)

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

Further Reading: Sell-Side Analysts

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