United Microelectronics (NYSE:UMC) Shares Gap Down – Here’s Why

by · The Markets Daily

United Microelectronics Corporation (NYSE:UMC – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $27.73, but opened at $25.48. United Microelectronics shares last traded at $25.7430, with a volume of 3,356,805 shares.

Analyst Upgrades and Downgrades

UMC has been the subject of a number of recent analyst reports. BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a research report on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a research report 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 Saturday, May 30th. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $8.60.

Get Our Latest Analysis on United Microelectronics

United Microelectronics Trading Down 8.3%

The company has a market capitalization of $64.04 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 3.30 and a beta of 1.61. 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 business’s 50-day simple moving average is $18.25 and its 200-day simple moving average is $12.47.

United Microelectronics (NYSE:UMC – Get Free Report) last announced 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 return on equity of 13.67% and a net margin of 20.71%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.92 billion. On average, research analysts expect that United Microelectronics Corporation will post 0.7 earnings per share for the current fiscal year.

United Microelectronics Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Wednesday, July 8th will be given a $0.4122 dividend. The ex-dividend date is Wednesday, July 8th. This represents a dividend yield of 144.0%. This is a positive change from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s dividend payout ratio is 56.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UMC. Jones Financial Companies Lllp lifted its position in United Microelectronics by 1,794.6% in the 1st quarter. Jones Financial Companies Lllp now owns 62,656 shares of the semiconductor company’s stock valued at $448,000 after acquiring an additional 59,349 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of United Microelectronics by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,655,721 shares of the semiconductor company’s stock worth $40,438,000 after purchasing an additional 537,777 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of United Microelectronics by 25.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 29,408 shares of the semiconductor company’s stock worth $225,000 after purchasing an additional 6,028 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of United Microelectronics in the 2nd quarter valued at approximately $108,000. Finally, Franklin Resources Inc. grew its stake in shares of United Microelectronics by 37.9% in the second quarter. Franklin Resources Inc. now owns 24,735 shares of the semiconductor company’s stock valued at $189,000 after buying an additional 6,793 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

About United Microelectronics

(Get Free Report)

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.

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