United Microelectronics Corporation (NYSE:UMC) Given Average Rating of “Strong Sell” by Brokerages

Shares of United Microelectronics Corporation (NYSE:UMC) have received an average recommendation of “Strong Sell” from the four ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $8.60.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. BNP Paribas Exane reissued an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. Finally, Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday.

Hedge Funds Weigh In On United Microelectronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of United Microelectronics by 873.8% in the fourth quarter. AQR Capital Management LLC now owns 9,464,312 shares of the semiconductor company’s stock worth $74,389,000 after acquiring an additional 8,492,466 shares during the period. Two Sigma Investments LP boosted its position in United Microelectronics by 832.5% during the third quarter. Two Sigma Investments LP now owns 3,530,564 shares of the semiconductor company’s stock worth $26,762,000 after purchasing an additional 3,151,936 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in United Microelectronics by 50.7% in the second quarter. Rafferty Asset Management LLC now owns 8,403,064 shares of the semiconductor company’s stock valued at $64,283,000 after purchasing an additional 2,826,486 shares during the period. Marshall Wace LLP purchased a new stake in shares of United Microelectronics in the third quarter valued at approximately $21,235,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of United Microelectronics by 2,011.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,980,820 shares of the semiconductor company’s stock worth $15,569,000 after buying an additional 1,886,996 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Stock Up 6.4%

NYSE UMC traded up $1.52 on Wednesday, hitting $25.36. The stock had a trading volume of 1,835,320 shares, compared to its average volume of 13,528,494. The business’s fifty day moving average price is $21.62 and its 200 day moving average price is $14.04. The stock has a market cap of $63.84 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. United Microelectronics has a 52-week low of $6.56 and a 52-week high of $28.96.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Equities research analysts anticipate that United Microelectronics will post 0.7 earnings per share for the current year.

United Microelectronics Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.4122 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a yield of 166.0%. This is an increase from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s payout ratio is 49.23%.

United Microelectronics Company Profile

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.