Hennessy Advisors Inc. Sells 2,431 Shares of United Microelectronics Co. (NYSE:UMC)

Hennessy Advisors Inc. reduced its stake in United Microelectronics Co. (NYSE:UMC) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,791 shares of the semiconductor company’s stock after selling 2,431 shares during the period. Hennessy Advisors Inc.’s holdings in United Microelectronics were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after purchasing an additional 434,018 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of United Microelectronics by 8.7% in the 4th quarter. Rafferty Asset Management LLC now owns 4,435,239 shares of the semiconductor company’s stock valued at $37,522,000 after purchasing an additional 355,186 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of United Microelectronics by 2,256.8% in the 4th quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock valued at $29,414,000 after purchasing an additional 3,329,354 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $5,860,000. Finally, Jennison Associates LLC acquired a new stake in shares of United Microelectronics in the 4th quarter valued at approximately $5,671,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UMC has been the topic of a number of research analyst reports. Citigroup upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th.

United Microelectronics Stock Up 0.6 %

NYSE:UMC opened at $8.76 on Friday. The firm’s 50 day simple moving average is $8.36 and its 200 day simple moving average is $8.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.32 and a quick ratio of 1.93. United Microelectronics Co. has a one year low of $6.71 and a one year high of $9.00. The company has a market cap of $21.95 billion, a PE ratio of 12.51, a P/E/G ratio of 2.87 and a beta of 1.20.

United Microelectronics (NYSE:UMC) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. United Microelectronics had a return on equity of 15.60% and a net margin of 24.79%. On average, research analysts anticipate that United Microelectronics Co. will post 0.63 earnings per share for the current 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 $0.356 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a dividend yield of 4.07%. United Microelectronics’s dividend payout ratio (DPR) is currently 62.86%.

About United Microelectronics

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.