United Microelectronics Corporation (NYSE:UMC) was up 6.4% on Friday . The stock traded as high as $2.68 and last traded at $2.66, with a volume of 2,076,688 shares changing hands. The stock had previously closed at $2.50.

Several equities research analysts recently weighed in on UMC shares. BidaskClub downgraded shares of United Microelectronics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG raised shares of United Microelectronics Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 28th. HSBC Holdings plc downgraded shares of United Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Instinet downgraded shares of United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a research report on Monday, July 3rd. Finally, Nomura downgraded shares of United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a research report on Friday, June 30th. Eight analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. United Microelectronics Corporation currently has an average rating of “Hold” and an average price target of $2.10.

The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 20.46 and a beta of 0.59. The company has a 50 day moving average price of $2.38 and a 200-day moving average price of $2.11.

United Microelectronics Corporation (NYSE:UMC) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. United Microelectronics Corporation had a net margin of 6.52% and a return on equity of 4.58%. The business had revenue of $37.54 billion for the quarter, compared to analyst estimates of $37.15 billion. During the same quarter in the prior year, the business posted $0.37 EPS. United Microelectronics Corporation’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that United Microelectronics Corporation will post $0.11 earnings per share for the current year.

The business also recently declared an annual dividend, which was paid on Thursday, August 17th. Shareholders of record on Tuesday, July 11th were paid a dividend of $0.0827 per share. This is a positive change from United Microelectronics Corporation’s previous annual dividend of $0.00. The ex-dividend date of this dividend was Friday, July 7th. This represents a yield of 4.22%. United Microelectronics Corporation’s dividend payout ratio is presently 46.16%.

Hedge funds have recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in United Microelectronics Corporation by 1.2% in the first quarter. World Asset Management Inc now owns 157,577 shares of the semiconductor company’s stock worth $304,000 after buying an additional 1,861 shares during the last quarter. Comerica Bank raised its stake in United Microelectronics Corporation by 1.3% in the first quarter. Comerica Bank now owns 144,779 shares of the semiconductor company’s stock worth $279,000 after buying an additional 1,880 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in United Microelectronics Corporation by 2.5% in the second quarter. BNP Paribas Arbitrage SA now owns 173,831 shares of the semiconductor company’s stock worth $424,000 after buying an additional 4,165 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in United Microelectronics Corporation by 2.5% in the second quarter. Wetherby Asset Management Inc. now owns 179,220 shares of the semiconductor company’s stock worth $437,000 after buying an additional 4,358 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in United Microelectronics Corporation by 5.0% in the second quarter. Parallel Advisors LLC now owns 149,811 shares of the semiconductor company’s stock worth $339,000 after buying an additional 7,133 shares during the last quarter. Hedge funds and other institutional investors own 5.35% of the company’s stock.

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United Microelectronics Corporation Company Profile

United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics 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.