United Microelectronics Corporation $UMC Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its stake in shares of United Microelectronics Corporation (NYSE:UMC) by 93.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,778 shares of the semiconductor company’s stock after selling 156,134 shares during the period. Inspire Investing LLC’s holdings in United Microelectronics were worth $97,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC purchased a new position in shares of United Microelectronics in the 2nd quarter valued at approximately $27,000. TD Private Client Wealth LLC purchased a new stake in shares of United Microelectronics during the fourth quarter worth approximately $32,000. Kestra Advisory Services LLC purchased a new stake in shares of United Microelectronics during the fourth quarter worth approximately $52,000. Arax Advisory Partners lifted its holdings 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 worth $68,000 after purchasing an additional 7,390 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of United Microelectronics by 20.5% during the fourth 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 during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on UMC. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, United Microelectronics currently has a consensus rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Stock Performance

Shares of UMC opened at $25.81 on Tuesday. The company has a 50-day simple moving average of $20.23 and a 200-day simple moving average of $13.35. The company has a quick ratio of 2.23, a current ratio of 2.72 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $64.98 billion, a PE ratio of 39.71, a P/E/G ratio of 2.89 and a beta of 1.58. United Microelectronics Corporation has a 52-week low of $6.56 and a 52-week high of $28.96.

United Microelectronics (NYSE:UMC) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 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 firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.92 billion. Equities research 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 declared an annual dividend, which will be paid on Thursday, August 6th. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.4122 per share. This represents a dividend yield of 144.0%. The ex-dividend date is Wednesday, July 8th. This is a positive change from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s payout ratio is 56.92%.

United Microelectronics Company Profile

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.