PNC Financial Services Group Inc. Acquires 2,754 Shares of United Microelectronics Co. (NYSE:UMC)

PNC Financial Services Group Inc. boosted its stake in shares of United Microelectronics Co. (NYSE:UMC) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,057 shares of the semiconductor company’s stock after buying an additional 2,754 shares during the quarter. PNC Financial Services Group Inc.’s holdings in United Microelectronics were worth $643,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Schroder Investment Management Group increased its stake in shares of United Microelectronics by 2,256.8% during the 4th quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock worth $29,414,000 after purchasing an additional 3,329,354 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in United Microelectronics in the fourth quarter worth $5,860,000. Jennison Associates LLC bought a new stake in shares of United Microelectronics in the fourth quarter valued at $5,671,000. Nomura Holdings Inc. purchased a new position in shares of United Microelectronics during the 4th quarter valued at $5,301,000. Finally, Vanguard Group Inc. grew its stake in shares of United Microelectronics by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock worth $134,250,000 after acquiring an additional 434,018 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

United Microelectronics Stock Performance

Shares of UMC opened at $8.81 on Wednesday. United Microelectronics Co. has a 52-week low of $6.71 and a 52-week high of $9.00. The stock’s 50-day simple moving average is $8.28 and its 200 day simple moving average is $8.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.93 and a current ratio of 2.32. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. Research analysts forecast that United Microelectronics Co. will post 0.63 EPS for the current fiscal year.

United Microelectronics Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.356 per share. The ex-dividend date is Tuesday, July 2nd. This represents a dividend yield of 4.07%. United Microelectronics’s dividend payout ratio (DPR) is currently 62.86%.

Wall Street Analyst Weigh In

Several research firms have commented on UMC. StockNews.com raised shares of United Microelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Citigroup raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday, April 24th.

United Microelectronics Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.