United Microelectronics (NYSE:UMC) Shares Gap Down – What’s Next?

Shares of United Microelectronics Corporation (NYSE:UMC) gapped down prior to trading on Tuesday . The stock had previously closed at $25.83, but opened at $24.10. United Microelectronics shares last traded at $23.7430, with a volume of 4,449,146 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UMC shares. BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Stock Performance

The business has a 50 day moving average of $20.23 and a 200 day moving average of $13.35. The company has a market capitalization of $59.66 billion, a P/E ratio of 36.43, a price-to-earnings-growth ratio of 2.89 and a beta of 1.58. The company has a quick ratio of 2.23, a current ratio of 2.72 and a debt-to-equity ratio of 0.12.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (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 the consensus estimate of $1.92 billion. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%. On average, sell-side analysts predict that United Microelectronics Corporation will post 0.7 earnings per share for the current year.

United Microelectronics Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Wednesday, July 8th will be given a $0.4122 dividend. This is a boost from United Microelectronics’s previous annual dividend of $0.37. This represents a yield of 144.0%. The ex-dividend date is Wednesday, July 8th. United Microelectronics’s dividend payout ratio (DPR) is presently 56.92%.

Hedge Funds Weigh In On United Microelectronics

Several institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of United Microelectronics by 1,794.6% in the 1st quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company’s stock worth $448,000 after buying an additional 59,349 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of United Microelectronics by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock valued at $40,438,000 after acquiring an additional 537,777 shares during the last quarter. Sivia Capital Partners LLC grew its position in United Microelectronics by 25.8% in the second quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company’s stock worth $225,000 after acquiring an additional 6,028 shares in the last quarter. Legal & General Group Plc purchased a new position in United Microelectronics in the second quarter worth about $108,000. Finally, Franklin Resources Inc. increased its stake in United Microelectronics by 37.9% during the second quarter. Franklin Resources Inc. now owns 24,735 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 6,793 shares during the last quarter. 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.