United Microelectronics Corporation (NYSE:UMC) Receives $8.60 Average Price Target from Analysts

Shares of United Microelectronics Corporation (NYSE:UMC) have received an average recommendation of “Strong Sell” from the four brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.60.

Several analysts recently weighed in on the company. BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of United Microelectronics in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut shares of United Microelectronics from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.

Institutional Investors Weigh In On United Microelectronics

Several institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC acquired a new position in shares of United Microelectronics in the second quarter worth $27,000. TD Private Client Wealth LLC bought a new position in shares of United Microelectronics during the 4th quarter worth about $32,000. CoreCap Advisors LLC raised its stake 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 acquiring an additional 1,000 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in United Microelectronics in the fourth quarter worth $52,000. Finally, Arax Advisory Partners raised its position in United Microelectronics by 583.7% in the 4th 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 last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

United Microelectronics Stock Performance

NYSE:UMC opened at $21.39 on Wednesday. The business’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $14.31. 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 stock has a market cap of $53.86 billion, a P/E ratio of 32.92, a PEG ratio of 2.63 and a beta of 1.58. United Microelectronics has a twelve month low of $6.56 and a twelve month high of $28.96.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. United Microelectronics had a net margin of 20.71% and a return on equity of 13.67%. As a group, equities analysts predict that United Microelectronics will post 0.7 EPS for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, August 6th. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.4122 per share. This represents a dividend yield of 166.0%. 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 currently 49.23%.

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.