Golden State Wealth Management LLC Makes New $29,000 Investment in United Microelectronics Corporation (NYSE:UMC)

Golden State Wealth Management LLC bought a new position in United Microelectronics Corporation (NYSE:UMC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the semiconductor company’s stock, valued at approximately $29,000.

A number of other hedge funds have also added to or reduced their stakes in UMC. Farther Finance Advisors LLC increased its holdings in United Microelectronics by 134.8% in the first quarter. Farther Finance Advisors LLC now owns 4,980 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,859 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in United Microelectronics in the fourth quarter worth approximately $69,000. Callan Family Office LLC bought a new stake in United Microelectronics in the fourth quarter worth approximately $70,000. SBI Securities Co. Ltd. bought a new stake in United Microelectronics in the fourth quarter worth approximately $73,000. Finally, Natural Investments LLC bought a new stake in United Microelectronics in the fourth quarter worth approximately $74,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UMC shares. Citigroup upgraded United Microelectronics from a “strong sell” rating to a “strong-buy” rating in a report on Friday, March 21st. The Goldman Sachs Group reiterated a “sell” rating on shares of United Microelectronics in a report on Friday, May 23rd. Finally, Wedbush downgraded United Microelectronics from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, United Microelectronics presently has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Trading Down 0.6%

NYSE UMC opened at $7.82 on Friday. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.68 and a beta of 1.14. United Microelectronics Corporation has a 52 week low of $5.61 and a 52 week high of $8.95. The business has a 50 day moving average price of $7.71 and a 200-day moving average price of $6.89. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.11.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $57.63 billion. United Microelectronics had a net margin of 18.97% and a return on equity of 12.10%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. As a group, equities analysts expect that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.3661 per share. This is an increase from United Microelectronics’s previous annual dividend of $0.36. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a dividend yield of 4.6%. United Microelectronics’s payout ratio is currently 68.52%.

United Microelectronics Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, 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.