NewEdge Advisors LLC Boosts Stock Position in United Microelectronics Corporation $UMC

NewEdge Advisors LLC lifted its position in shares of United Microelectronics Corporation (NYSE:UMC) by 8,430.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,558 shares of the semiconductor company’s stock after buying an additional 55,895 shares during the period. NewEdge Advisors LLC’s holdings in United Microelectronics were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC purchased a new stake in United Microelectronics in the second quarter worth approximately $27,000. TD Private Client Wealth LLC purchased a new position in shares of United Microelectronics during the fourth quarter worth approximately $32,000. Kestra Advisory Services LLC purchased a new position in shares of United Microelectronics during the fourth quarter worth approximately $52,000. Arax Advisory Partners lifted its holdings in shares of United Microelectronics by 583.7% in the 4th quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 7,390 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of United Microelectronics by 20.5% in the 4th quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 1,498 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UMC shares. Wall Street Zen raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Zacks Research upgraded shares of United Microelectronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. BNP Paribas Exane reissued an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. Arete Research upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.60.

United Microelectronics Price Performance

Shares of United Microelectronics stock opened at $18.33 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 1.81. United Microelectronics Corporation has a one year low of $6.56 and a one year high of $28.96. The business’s 50 day simple moving average is $21.96 and its two-hundred day simple moving average is $16.02. The stock has a market capitalization of $46.15 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.60.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 earnings per share for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The firm had revenue of $2.16 billion during the quarter. Analysts forecast that United Microelectronics Corporation will post 1.23 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Wednesday, July 8th were given a dividend of $0.4122 per share. This represents a yield of 166.0%. The ex-dividend date of this dividend was Wednesday, July 8th. This is an increase from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s dividend payout ratio is currently 28.97%.

About United Microelectronics

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.