United Microelectronics (NYSE:UMC) Trading Down 6.1% – Here’s What Happened

United Microelectronics Corporation (NYSE:UMC) traded down 6.1% during trading on Friday . The company traded as low as $20.16 and last traded at $20.9240. Approximately 9,201,210 shares were traded during mid-day trading, a decline of 33% from the average session volume of 13,649,759 shares. The stock had previously closed at $22.29.

Analysts Set New Price Targets

UMC has been the topic of a number of recent analyst reports. BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, United Microelectronics currently has a consensus rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Stock Down 3.3%

The company has a market capitalization of $54.29 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.93 and a beta of 1.58. The firm has a 50-day moving average price of $21.96 and a two-hundred day moving average price of $14.26. 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 (NYSE:UMC) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.92 billion. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. As a group, sell-side analysts anticipate that United Microelectronics Corporation will post 0.7 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The company 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. This represents a yield of 166.0%. This is an increase from United Microelectronics’s previous annual dividend of $0.37. The ex-dividend date of this dividend is Wednesday, July 8th. United Microelectronics’s payout ratio is currently 49.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC raised its holdings in shares of United Microelectronics by 271.0% in the 2nd quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of United Microelectronics during the 2nd quarter worth approximately $76,000. Smartleaf Asset Management LLC bought a new stake in United Microelectronics in the 2nd quarter valued at $27,000. TD Private Client Wealth LLC acquired a new stake in United Microelectronics during the 4th quarter valued at $32,000. Finally, Kestra Advisory Services LLC bought a new position in United Microelectronics during the fourth quarter worth $52,000. Institutional investors own 5.05% of the company’s stock.

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.