Morgan Stanley boosted its stake in shares of United Microelectronics Corporation (NYSE:UMC) by 9,690.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,128,440 shares of the semiconductor company’s stock after buying an additional 6,065,844 shares during the period. Morgan Stanley’s holdings in United Microelectronics Corporation were worth $11,827,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in shares of United Microelectronics Corporation during the first quarter valued at $130,000. AXA bought a new position in United Microelectronics Corporation during the first quarter worth approximately $154,000. Profund Advisors LLC increased its position in United Microelectronics Corporation by 25.5% in the first quarter. Profund Advisors LLC now owns 100,416 shares of the semiconductor company’s stock worth $194,000 after buying an additional 20,387 shares in the last quarter. UBS Group AG increased its position in United Microelectronics Corporation by 40.5% in the first quarter. UBS Group AG now owns 114,080 shares of the semiconductor company’s stock worth $220,000 after buying an additional 32,884 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in United Microelectronics Corporation by 33.7% in the first quarter. Envestnet Asset Management Inc. now owns 130,348 shares of the semiconductor company’s stock worth $251,000 after buying an additional 32,857 shares in the last quarter. 6.51% of the stock is owned by hedge funds and other institutional investors.
Shares of United Microelectronics Corporation (UMC) opened at 2.23 on Wednesday. The stock’s 50 day moving average price is $2.27 and its 200-day moving average price is $2.03. United Microelectronics Corporation has a one year low of $1.74 and a one year high of $2.57. The stock has a market cap of $5.44 billion, a PE ratio of 16.52 and a beta of 0.60.
United Microelectronics Corporation (NYSE:UMC) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. United Microelectronics Corporation had a return on equity of 4.61% and a net margin of 6.52%. The company had revenue of $37.54 billion during the quarter, compared to the consensus estimate of $37.15 billion. During the same period last year, the business earned $0.37 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that United Microelectronics Corporation will post $0.11 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which will be paid on Thursday, August 17th. Stockholders of record on Tuesday, July 11th will be paid a dividend of $0.0827 per share. The ex-dividend date of this dividend is Friday, July 7th. This is an increase from United Microelectronics Corporation’s previous annual dividend of $0.00. This represents a dividend yield of 4.22%. United Microelectronics Corporation’s dividend payout ratio (DPR) is 46.16%.
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UMC has been the subject of a number of research analyst reports. BidaskClub downgraded shares of United Microelectronics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday. Daiwa Capital Markets downgraded shares of United Microelectronics Corporation from a “hold” rating to an “underperform” rating in a research note on Wednesday, July 26th. Instinet downgraded shares of United Microelectronics Corporation from a “neutral” rating to a “reduce” rating in a research note on Monday, July 3rd. Macquarie downgraded shares of United Microelectronics Corporation from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 29th. Finally, Citigroup Inc. downgraded shares of United Microelectronics Corporation from a “neutral” rating to a “sell” rating in a research note on Wednesday, July 26th. Eight analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Sell” and a consensus price target of $2.10.
United Microelectronics Corporation Company Profile
United Microelectronics Corporation is a global semiconductor foundry. The Company provides integrated circuit (IC) production for applications spanning every sector of the electronics industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Company’s wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques.
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