United Microelectronics (NYSE:UMC) Stock Price Down 6.1% – What’s Next?

United Microelectronics Corporation (NYSE:UMC)’s share price fell 6.1% on Friday . The stock traded as low as $20.16 and last traded at $20.9240. 9,201,210 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 13,649,759 shares. The stock had previously closed at $22.29.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on UMC shares. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. Finally, Wall Street Zen cut United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and an average 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 has a market cap of $53.86 billion, a PE ratio of 32.92, a PEG ratio of 2.50 and a beta of 1.58. The company’s 50-day simple moving average is $22.08 and its 200 day simple moving average is $14.31.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, sell-side analysts predict that United Microelectronics Corporation will post 0.7 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Wednesday, July 8th will be issued a $0.4122 dividend. This represents a yield of 166.0%. This is a boost from United Microelectronics’s previous annual dividend of $0.37. The ex-dividend date is Wednesday, July 8th. United Microelectronics’s dividend payout ratio (DPR) is 47.69%.

Institutional Investors Weigh In On United Microelectronics

Several large investors have recently bought and sold shares of UMC. Dynamic Advisor Solutions LLC lifted its stake in shares of United Microelectronics by 7.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 12,914 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 889 shares during the period. CoreCap Advisors LLC boosted its holdings in United Microelectronics by 271.0% during the second quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in United Microelectronics by 0.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 129,895 shares of the semiconductor company’s stock worth $1,166,000 after buying an additional 1,074 shares during the period. Cetera Investment Advisers grew its position in United Microelectronics by 7.7% during the fourth quarter. Cetera Investment Advisers now owns 15,472 shares of the semiconductor company’s stock worth $122,000 after buying an additional 1,103 shares during the period. Finally, Xponance LLC increased its holdings in United Microelectronics by 7.2% in the fourth quarter. Xponance LLC now owns 20,494 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 1,384 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.