Matthews International Capital Management LLC Invests $8.78 Million in United Microelectronics Corporation $UMC

Matthews International Capital Management LLC acquired a new position in United Microelectronics Corporation (NYSE:UMC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 977,645 shares of the semiconductor company’s stock, valued at approximately $8,779,000. United Microelectronics comprises about 3.6% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 9th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Smartleaf Asset Management LLC bought a new position in United Microelectronics during the 2nd quarter worth $27,000. TD Private Client Wealth LLC acquired a new stake in shares of United Microelectronics in the fourth quarter valued at about $32,000. Kestra Advisory Services LLC acquired a new stake in shares of United Microelectronics in the fourth quarter valued at about $52,000. Arax Advisory Partners raised its position in shares of United Microelectronics by 583.7% during the fourth quarter. Arax Advisory Partners now owns 8,656 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 7,390 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of United Microelectronics by 20.5% during the fourth quarter. Allworth Financial LP now owns 8,817 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 1,498 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BNP Paribas Exane reiterated an “underperform” rating on shares of United Microelectronics in a report on Thursday, May 28th. Wall Street Zen lowered shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of United Microelectronics in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Microelectronics currently has a consensus rating of “Strong Sell” and an average price target of $8.60.

United Microelectronics Stock Up 0.2%

Shares of NYSE:UMC opened at $24.39 on Monday. The business’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $13.81. The firm has a market cap of $61.42 billion, a P/E ratio of 37.53, a PEG ratio of 2.87 and a beta of 1.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.23 and a current ratio of 2.72. United Microelectronics Corporation has a 52-week low of $6.56 and a 52-week high of $28.96.

United Microelectronics (NYSE:UMC) last released 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. United Microelectronics had a return on equity of 13.67% and a net margin of 20.71%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. As a group, research analysts forecast that United Microelectronics Corporation will post 0.7 EPS for the current fiscal year.

United Microelectronics Increases Dividend

The firm 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. This represents a yield of 166.0%. The ex-dividend date of this dividend is Wednesday, July 8th. This is an increase from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s payout ratio is 47.69%.

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.