United Microelectronics (NYSE:UMC) Reaches New 12-Month High – Here’s What Happened

United Microelectronics Corporation (NYSE:UMC)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $28.66 and last traded at $27.96, with a volume of 24123378 shares traded. The stock had previously closed at $26.20.

Analyst Upgrades and Downgrades

UMC has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. Wall Street Zen downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $8.60.

United Microelectronics Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.23 and a current ratio of 2.72. The company’s fifty day simple moving average is $17.89 and its two-hundred day simple moving average is $12.33. The stock has a market capitalization of $70.39 billion, a PE ratio of 43.02, a P/E/G ratio of 3.09 and a beta of 1.61.

United Microelectronics (NYSE:UMC) last announced its earnings results 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. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. As a group, sell-side analysts predict that United Microelectronics Corporation will post 0.7 EPS for the current year.

United Microelectronics Increases Dividend

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

Institutional Investors Weigh In On United Microelectronics

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

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.