United Microelectronics Co. (NYSE:UMC) saw a large increase in short interest in August. As of August 13th, there was short interest totalling 13,830,000 shares, an increase of 21.0% from the July 29th total of 11,430,000 shares. Based on an average daily trading volume, of 6,470,000 shares, the days-to-cover ratio is presently 2.1 days.
Shares of UMC traded up $0.02 during trading hours on Tuesday, hitting $11.37. The company had a trading volume of 6,325,050 shares, compared to its average volume of 7,045,649. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.82 and a beta of 1.06. The business has a fifty day moving average of $10.03 and a 200-day moving average of $9.56. United Microelectronics has a 12 month low of $3.42 and a 12 month high of $11.71. The company has a quick ratio of 2.18, a current ratio of 2.44 and a debt-to-equity ratio of 0.21.
United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Tuesday, July 27th. The semiconductor company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. United Microelectronics had a net margin of 22.71% and a return on equity of 18.21%. On average, equities analysts expect that United Microelectronics will post 0.71 EPS for the current fiscal year.
The firm also recently disclosed an annual dividend, which was paid on Friday, August 20th. Investors of record on Thursday, July 22nd were issued a $0.2854 dividend. This represents a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, July 21st. This is a positive change from United Microelectronics’s previous annual dividend of $0.14. United Microelectronics’s dividend payout ratio (DPR) is 52.38%.
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A number of institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new stake in shares of United Microelectronics in the 2nd quarter valued at $397,000. Morgan Stanley boosted its holdings in United Microelectronics by 48.9% during the 2nd quarter. Morgan Stanley now owns 2,062,047 shares of the semiconductor company’s stock worth $19,486,000 after acquiring an additional 676,871 shares during the last quarter. Colony Group LLC boosted its holdings in United Microelectronics by 21.6% during the 2nd quarter. Colony Group LLC now owns 30,214 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 5,375 shares during the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in United Microelectronics during the 2nd quarter worth $170,000. Finally, Paloma Partners Management Co purchased a new position in shares of United Microelectronics in the 2nd quarter worth about $162,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.
Several research analysts recently commented on UMC shares. Zacks Investment Research downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group upgraded shares of United Microelectronics from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, July 28th. JPMorgan Chase & Co. upgraded shares of United Microelectronics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 28th. Sanford C. Bernstein lowered shares of United Microelectronics from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $8.40 to $7.30 in a research report on Monday, June 7th. Finally, Wedbush reaffirmed an “outperform” rating on shares of United Microelectronics in a research note on Friday, July 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.65.
United Microelectronics Company Profile
United Microelectronics Corp. engages in the semiconductor foundry business. It offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors.
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