United Microelectronics (NYSE:UMC) Shares Gap Down to $8.77

Shares of United Microelectronics Co. (NYSE:UMC) gapped down prior to trading on Tuesday . The stock had previously closed at $8.77, but opened at $8.24. United Microelectronics shares last traded at $8.30, with a volume of 411,932 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UMC. StockNews.com raised United Microelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday, April 24th.

United Microelectronics Stock Up 0.3 %

The company has a quick ratio of 1.93, a current ratio of 2.32 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $8.41 and a 200-day moving average price of $8.12. The firm has a market capitalization of $20.86 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. Equities research analysts forecast that United Microelectronics Co. will post 0.63 earnings per share for the current fiscal year.

United Microelectronics Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 2nd will be paid a $0.356 dividend. This represents a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, July 2nd. United Microelectronics’s payout ratio is currently 51.43%.

Institutional Trading of United Microelectronics

Several hedge funds have recently modified their holdings of UMC. Vanguard Group Inc. raised its stake in United Microelectronics by 2.8% in the fourth 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. Rafferty Asset Management LLC raised its stake in United Microelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 4,435,239 shares of the semiconductor company’s stock valued at $37,522,000 after buying an additional 355,186 shares in the last quarter. Schroder Investment Management Group raised its stake in United Microelectronics by 2,256.8% in the fourth quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock valued at $29,414,000 after buying an additional 3,329,354 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in United Microelectronics in the fourth quarter valued at $5,860,000. Finally, Jennison Associates LLC acquired a new stake in United Microelectronics in the fourth quarter valued at $5,671,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics

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.