United Microelectronics Corp (NYSE:UMC) dropped 0.5% during mid-day trading on Friday . The company traded as low as $1.99 and last traded at $2.00, with a volume of 307,691 shares. The stock had previously closed at $2.01.

Separately, JPMorgan Chase & Co. downgraded shares of United Microelectronics Corp from an “overweight” rating to a “neutral” rating in a report on Thursday, April 28th.

The firm’s 50-day moving average price is $1.93 and its 200-day moving average price is $1.94. The firm has a market cap of $4.99 billion and a price-to-earnings ratio of 17.48.

United Microelectronics Corp (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.13. During the same quarter in the previous year, the business earned $0.32 EPS. The company had revenue of $34.40 billion for the quarter, compared to analyst estimates of $33.84 billion. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. Analysts forecast that United Microelectronics Corp will post $0.11 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, July 14th will be paid a $0.061 dividend. The ex-dividend date of this dividend is Tuesday, July 12th.

An institutional investor recently raised its position in United Microelectronics Corp stock. Bank of Montreal Can raised its stake in shares of United Microelectronics Corp (NYSE:UMC) by 55.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,091,781 shares of the company’s stock after buying an additional 388,316 shares during the period. Bank of Montreal Can’s holdings in United Microelectronics Corp were worth $2,053,000 as of its most recent SEC filing.

United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.

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