Redwood Wealth Management Group LLC Sells 4,185 Shares of United Microelectronics Co. (NYSE:UMC)

Redwood Wealth Management Group LLC lowered its position in shares of United Microelectronics Co. (NYSE:UMC) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,319 shares of the semiconductor company’s stock after selling 4,185 shares during the period. Redwood Wealth Management Group LLC’s holdings in United Microelectronics were worth $375,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of United Microelectronics in the fourth quarter worth about $27,000. SpiderRock Advisors LLC purchased a new position in shares of United Microelectronics in the first quarter worth about $86,000. Optas LLC purchased a new position in shares of United Microelectronics in the fourth quarter worth about $89,000. Cherrydale Wealth Management LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $93,000. Finally, Adero Partners LLC purchased a new position in United Microelectronics during the 4th quarter valued at about $94,000. Institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Up 0.7 %

Shares of UMC stock traded up $0.06 during midday trading on Friday, reaching $8.32. 12,258,919 shares of the stock were exchanged, compared to its average volume of 8,091,855. United Microelectronics Co. has a 1 year low of $6.71 and a 1 year high of $9.00. The company’s 50 day moving average is $8.50 and its two-hundred day moving average is $8.14. The company has a current ratio of 2.32, a quick ratio of 1.93 and a debt-to-equity ratio of 0.11. The firm has a market cap of $20.85 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. On average, equities research analysts predict that United Microelectronics Co. will post 0.63 EPS for the current year.

United Microelectronics Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.356 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a dividend yield of 4.07%. United Microelectronics’s dividend payout ratio (DPR) is 51.43%.

Analyst Ratings Changes

A number of research analysts recently issued reports on UMC shares. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Citigroup upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday, April 24th.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.