United Microelectronics Corporation (NYSE:UMC) Receives $8.60 Average PT from Brokerages

United Microelectronics Corporation (NYSE:UMC) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.60.

A number of equities research analysts recently issued reports on UMC shares. BNP Paribas Exane reissued an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. Arete Research upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Zacks Research raised shares of United Microelectronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th.

Institutional Investors Weigh In On United Microelectronics

Large investors have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in shares of United Microelectronics in the second quarter valued at approximately $41,000. Heck Capital Advisors LLC acquired a new position in United Microelectronics in the 2nd quarter valued at $399,000. Valeo Financial Advisors LLC acquired a new position in United Microelectronics in the 2nd quarter valued at $329,000. Strategic Investment Solutions Inc. IL purchased a new position in United Microelectronics in the 2nd quarter valued at $76,000. Finally, FNY Investment Advisers LLC purchased a new position in United Microelectronics in the 2nd quarter valued at $544,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

United Microelectronics Stock Performance

Shares of UMC stock opened at $19.14 on Friday. The company has a market capitalization of $48.17 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.45 and a beta of 1.60. The business’s 50 day moving average is $22.13 and its two-hundred day moving average is $15.76. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.10. United Microelectronics has a 12-month low of $6.56 and a 12-month high of $28.96.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. The business had revenue of $2.16 billion during the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%. Analysts expect that United Microelectronics will post 1.23 EPS for the current fiscal year.

United Microelectronics Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, August 6th. Investors of record on Wednesday, July 8th were paid a $0.4122 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a yield of 166.0%. This is a boost from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s dividend payout ratio is 28.97%.

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.