GAMMA Investing LLC Acquires 83,236 Shares of United Microelectronics Corporation (NYSE:UMC)

GAMMA Investing LLC increased its holdings in shares of United Microelectronics Corporation (NYSE:UMC) by 2,495.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,572 shares of the semiconductor company’s stock after acquiring an additional 83,236 shares during the period. GAMMA Investing LLC’s holdings in United Microelectronics were worth $619,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of UMC. Savant Capital LLC acquired a new position in United Microelectronics during the 4th quarter worth $66,000. Verdence Capital Advisors LLC acquired a new position in shares of United Microelectronics in the 4th quarter valued at $69,000. Callan Family Office LLC acquired a new position in shares of United Microelectronics in the 4th quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new position in shares of United Microelectronics in the 4th quarter valued at $73,000. Finally, Natural Investments LLC acquired a new position in shares of United Microelectronics in the 4th quarter valued at $74,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

United Microelectronics Stock Performance

Shares of United Microelectronics stock opened at $8.26 on Thursday. The company has a market capitalization of $20.74 billion, a PE ratio of 15.29, a PEG ratio of 1.75 and a beta of 1.14. United Microelectronics Corporation has a 12 month low of $5.61 and a 12 month high of $9.00. The company has a current ratio of 2.64, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $6.80.

United Microelectronics (NYSE:UMC) last issued 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $57.63 billion. United Microelectronics had a return on equity of 12.10% and a net margin of 18.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. On average, research analysts predict that United Microelectronics Corporation will post 0.51 EPS for the current year.

United Microelectronics Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, July 23rd. Investors of record on Tuesday, June 24th will be paid a dividend of $0.3661 per share. This represents a yield of 4.6%. The ex-dividend date is Tuesday, June 24th. This is an increase from United Microelectronics’s previous annual dividend of $0.36. United Microelectronics’s dividend payout ratio (DPR) is presently 66.67%.

About United Microelectronics

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.