United Microelectronics (NYSE:UMC) Hits New 12-Month High at $8.92

United Microelectronics Co. (NYSE:UMCGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $8.92 and last traded at $8.90, with a volume of 4413420 shares changing hands. The stock had previously closed at $8.73.

Analyst Ratings Changes

UMC has been the subject of a number of analyst reports. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th.

Read Our Latest Report on UMC

United Microelectronics Price Performance

The firm has a market capitalization of $22.23 billion, a PE ratio of 12.67, a P/E/G ratio of 2.88 and a beta of 1.20. The company has a fifty day moving average price of $8.17 and a two-hundred day moving average price of $8.05. The company has a current ratio of 2.32, a quick ratio of 1.93 and a debt-to-equity ratio of 0.11.

United Microelectronics (NYSE:UMCGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.72 billion. United Microelectronics had a net margin of 24.79% and a return on equity of 15.60%. Sell-side analysts forecast that United Microelectronics Co. will post 0.63 earnings per share for the current year.

United Microelectronics Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.356 per share. This represents a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, July 2nd. United Microelectronics’s payout ratio is 62.86%.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently modified their holdings of UMC. Schroder Investment Management Group boosted its stake in shares of United Microelectronics by 2,256.8% during the 4th quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock worth $29,414,000 after acquiring an additional 3,329,354 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of United Microelectronics during the 4th quarter worth approximately $5,860,000. Jennison Associates LLC purchased a new stake in United Microelectronics in the 4th quarter valued at approximately $5,671,000. Nomura Holdings Inc. purchased a new stake in United Microelectronics in the 4th quarter valued at approximately $5,301,000. Finally, Vanguard Group Inc. lifted its stake in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after buying an additional 434,018 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Company Profile

(Get Free Report)

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.

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