United Microelectronics Corporation $UMC Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in United Microelectronics Corporation (NYSE:UMC) by 41.2% in the first quarter, Holdings Channel reports. The institutional investor owned 153,593 shares of the semiconductor company’s stock after selling 107,528 shares during the quarter. Summit Global Investments’ holdings in United Microelectronics were worth $1,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United Microelectronics by 3,854.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 168,648 shares of the semiconductor company’s stock valued at $1,326,000 after acquiring an additional 164,383 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of United Microelectronics by 13.8% during the fourth quarter. Moran Wealth Management LLC now owns 792,367 shares of the semiconductor company’s stock worth $6,228,000 after purchasing an additional 95,871 shares during the period. Ethic Inc. lifted its position in shares of United Microelectronics by 16.6% in the 4th quarter. Ethic Inc. now owns 495,589 shares of the semiconductor company’s stock worth $3,895,000 after buying an additional 70,597 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of United Microelectronics by 115.3% in the 1st quarter. QRG Capital Management Inc. now owns 86,927 shares of the semiconductor company’s stock valued at $781,000 after buying an additional 46,549 shares during the period. Finally, Matthews International Capital Management LLC acquired a new position in shares of United Microelectronics in the 1st quarter valued at about $8,779,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

UMC has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “hold (c)” rating on shares of United Microelectronics in a report on Tuesday, May 26th. Finally, BNP Paribas Exane restated an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, United Microelectronics has a consensus rating of “Strong Sell” and a consensus price target of $8.60.

United Microelectronics Price Performance

Shares of NYSE UMC opened at $20.30 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.72 and a quick ratio of 2.23. The firm has a market capitalization of $51.10 billion, a PE ratio of 31.23, a P/E/G ratio of 2.50 and a beta of 1.58. United Microelectronics Corporation has a 1-year low of $6.56 and a 1-year high of $28.96. The business’s fifty day moving average price is $22.17 and its two-hundred day moving average price is $14.44.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The company 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%. On average, research analysts expect that United Microelectronics Corporation will post 0.7 EPS for the current year.

United Microelectronics Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, August 6th. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.4122 per share. This represents a yield of 166.0%. The ex-dividend date of this dividend is Wednesday, July 8th. This is a positive change from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s dividend payout ratio (DPR) is presently 49.23%.

About United Microelectronics

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.