Cerity Partners LLC Purchases 153,123 Shares of United Microelectronics Corporation (NYSE:UMC)

Cerity Partners LLC boosted its position in United Microelectronics Corporation (NYSE:UMC) by 89.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324,207 shares of the semiconductor company’s stock after acquiring an additional 153,123 shares during the quarter. Cerity Partners LLC’s holdings in United Microelectronics were worth $2,318,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Infini Capital Management Ltd bought a new stake in shares of United Microelectronics in the first quarter worth $92,000. Crossmark Global Holdings Inc. raised its holdings in shares of United Microelectronics by 8.2% during the first quarter. Crossmark Global Holdings Inc. now owns 1,257,877 shares of the semiconductor company’s stock valued at $8,994,000 after purchasing an additional 94,858 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of United Microelectronics by 13.4% during the first quarter. Envestnet Asset Management Inc. now owns 94,094 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 11,122 shares during the period. BSW Wealth Partners raised its holdings in shares of United Microelectronics by 181.0% in the 1st quarter. BSW Wealth Partners now owns 36,716 shares of the semiconductor company’s stock worth $263,000 after acquiring an additional 23,648 shares during the last quarter. Finally, PDS Planning Inc raised its holdings in shares of United Microelectronics by 18.2% in the 1st quarter. PDS Planning Inc now owns 68,371 shares of the semiconductor company’s stock worth $489,000 after acquiring an additional 10,543 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

United Microelectronics Stock Performance

United Microelectronics stock opened at $7.47 on Friday. The firm’s fifty day moving average price is $7.79 and its 200-day moving average price is $6.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.64. The stock has a market cap of $18.77 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. United Microelectronics Corporation has a fifty-two week low of $5.61 and a fifty-two week high of $8.95.

United Microelectronics (NYSE:UMC) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $57.63 billion. United Microelectronics had a return on equity of 12.10% and a net margin of 18.97%. United Microelectronics’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities research analysts expect that United Microelectronics Corporation will post 0.51 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a yield of 4.6%. This is a positive change from United Microelectronics’s previous annual dividend of $0.36. United Microelectronics’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on UMC shares. Wedbush downgraded shares of United Microelectronics from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of United Microelectronics in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Company Profile

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.