United Microelectronics (NYSE:UMC) Sees Strong Trading Volume

United Microelectronics Corp (NYSE:UMC) shares saw an uptick in trading volume on Thursday . 47,432 shares were traded during trading, a decline of 92% from the previous session’s volume of 609,870 shares.The stock last traded at $2.34 and had previously closed at $2.32.

Several research firms have recently commented on UMC. Credit Suisse Group raised United Microelectronics from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 24th. Goldman Sachs Group set a €40.50 ($47.09) price objective on Koninklijke Philips and gave the company a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. cut their price objective on Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. Macquarie began coverage on Lundin Mining in a report on Wednesday. They issued a “neutral” rating for the company. Finally, HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. United Microelectronics currently has an average rating of “Hold” and a consensus price target of $1.78.

The company has a market capitalization of $5.26 billion, a P/E ratio of 31.57 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.43 and a current ratio of 2.79. The company’s fifty day moving average is $2.11.

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

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 issued a $0.0936 dividend. This represents a dividend yield of 5.45%. The ex-dividend date of this dividend is Monday, July 15th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of United Microelectronics by 66.9% during the 3rd quarter. Morgan Stanley now owns 679,638 shares of the semiconductor company’s stock worth $1,753,000 after purchasing an additional 272,394 shares during the period. First Trust Advisors LP boosted its position in shares of United Microelectronics by 132.8% during the 4th quarter. First Trust Advisors LP now owns 69,024 shares of the semiconductor company’s stock worth $124,000 after purchasing an additional 39,375 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of United Microelectronics by 60.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 58,702 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 22,091 shares during the period. Private Advisor Group LLC purchased a new position in shares of United Microelectronics during the 4th quarter worth approximately $32,000. Finally, Northern Trust Corp boosted its position in United Microelectronics by 76.5% in the 4th quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock valued at $4,791,000 after buying an additional 1,159,883 shares during the period. 5.32% of the stock is 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.

See Also: What is the Federal Reserve?

Receive News & Ratings for United Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.