United Microelectronics (NYSE:UMC) Shares Gap Down to $8.77

Shares of United Microelectronics Co. (NYSE:UMC) gapped down before the market opened on Tuesday . The stock had previously closed at $8.77, but opened at $8.24. United Microelectronics shares last traded at $8.30, with a volume of 411,932 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday, April 24th. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th.

United Microelectronics Stock Up 0.3 %

The stock has a 50-day moving average of $8.41 and a two-hundred day moving average of $8.12. The company has a market cap of $20.86 billion, a P/E ratio of 11.89, a P/E/G ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.93 and a current ratio of 2.32.

United Microelectronics (NYSE:UMC) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share 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 the consensus estimate 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 EPS for the current fiscal year.

United Microelectronics Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 2nd will be given a $0.356 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a yield of 4.07%. United Microelectronics’s payout ratio is currently 51.43%.

Institutional Trading of United Microelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC bought a new stake in United Microelectronics in the fourth quarter valued at approximately $5,671,000. Nomura Holdings Inc. bought a new stake in United Microelectronics in the fourth quarter valued at approximately $5,301,000. Rafferty Asset Management LLC lifted its position in United Microelectronics by 8.7% in the fourth 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 during the last quarter. Capstone Investment Advisors LLC bought a new stake in United Microelectronics in the fourth quarter valued at approximately $5,860,000. Finally, Simon Quick Advisors LLC bought a new stake in United Microelectronics in the fourth quarter valued at approximately $109,000. Institutional investors own 5.05% of the company’s stock.

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.