United Microelectronics Corp (NYSE:UMC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $2.69 and last traded at $2.69, with a volume of 3,469,705 shares traded. The stock had previously closed at $2.66.

Several research firms recently commented on UMC. UBS AG upgraded United Microelectronics Corp from a “neutral” rating to a “buy” rating in a report on Wednesday, June 28th. BidaskClub upgraded United Microelectronics Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Nomura downgraded United Microelectronics Corp from a “neutral” rating to a “reduce” rating in a report on Friday, June 30th. Sanford C. Bernstein cut United Microelectronics Corp from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $1.90 to $2.10 in a research report on Thursday, July 27th. Finally, Credit Suisse Group cut United Microelectronics Corp from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 27th. Eight equities research 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. The stock currently has a consensus rating of “Hold” and an average price target of $2.10.

The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 20.62 and a beta of 0.60. The stock has a 50-day moving average of $2.39 and a 200 day moving average of $2.13.

United Microelectronics Corp (NYSE:UMC) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. United Microelectronics Corp had a return on equity of 3.93% and a net margin of 3.94%. The firm had revenue of $37.54 billion for the quarter, compared to the consensus estimate of $37.15 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that United Microelectronics Corp will post $0.11 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of United Microelectronics Corp by 6.1% in the second quarter. State Street Corp now owns 2,744,618 shares of the semiconductor company’s stock worth $6,698,000 after buying an additional 156,717 shares during the last quarter. Sensato Investors LLC purchased a new position in United Microelectronics Corp during the second quarter worth approximately $1,313,000. Goldman Sachs Group Inc. boosted its position in United Microelectronics Corp by 411.5% during the second quarter. Goldman Sachs Group Inc. now owns 479,017 shares of the semiconductor company’s stock worth $1,169,000 after purchasing an additional 385,369 shares in the last quarter. Renaissance Technologies LLC boosted its position in United Microelectronics Corp by 39.0% during the second quarter. Renaissance Technologies LLC now owns 16,795,799 shares of the semiconductor company’s stock worth $40,982,000 after purchasing an additional 4,708,210 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in United Microelectronics Corp by 3.8% during the second quarter. Vanguard Group Inc. now owns 33,970,238 shares of the semiconductor company’s stock worth $82,887,000 after purchasing an additional 1,258,346 shares in the last quarter. Hedge funds and other institutional investors own 5.35% of the company’s stock.

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United Microelectronics Corp 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.