BidaskClub upgraded shares of United Microelectronics Corporation (NYSE:UMC) from a buy rating to a strong-buy rating in a report issued on Saturday.

Several other brokerages have also recently weighed in on UMC. Daiwa Capital Markets cut shares of United Microelectronics Corporation from a hold rating to an underperform rating in a research note on Wednesday, July 26th. HSBC Holdings plc cut shares of United Microelectronics Corporation from a buy rating to a hold rating in a research note on Wednesday, July 26th. Citigroup Inc. cut shares of United Microelectronics Corporation from a neutral rating to a sell rating in a research note on Wednesday, July 26th. Instinet cut shares of United Microelectronics Corporation from a neutral rating to a reduce rating in a research note on Monday, July 3rd. Finally, Nomura cut shares of United Microelectronics Corporation from a neutral rating to a reduce rating in a research note on Friday, June 30th. Eight equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $2.10.

Shares of United Microelectronics Corporation (NYSE:UMC) traded up 1.23% during mid-day trading on Friday, hitting $2.47. The stock had a trading volume of 969,087 shares. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 19.00 and a beta of 0.60. The firm’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.09. United Microelectronics Corporation has a 12-month low of $1.74 and a 12-month high of $2.57.

United Microelectronics Corporation (NYSE:UMC) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. United Microelectronics Corporation had a net margin of 6.52% and a return on equity of 4.58%. The company had revenue of $37.54 billion for the quarter, compared to analysts’ expectations of $37.15 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. United Microelectronics Corporation’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that United Microelectronics Corporation will post $0.11 EPS for the current fiscal year.

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The company also recently declared an annual dividend, which was paid on Thursday, August 17th. Shareholders of record on Tuesday, July 11th were given a dividend of $0.0827 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a yield of 4.22%. This is a boost from United Microelectronics Corporation’s previous annual dividend of $0.00. United Microelectronics Corporation’s dividend payout ratio is 46.16%.

A number of hedge funds have recently modified their holdings of UMC. State Street Corp boosted its stake in shares of United Microelectronics Corporation by 6.1% in the second quarter. State Street Corp now owns 2,744,618 shares of the semiconductor company’s stock worth $6,698,000 after buying an additional 156,717 shares during the period. Sensato Investors LLC purchased a new stake in shares of United Microelectronics Corporation during the second quarter worth approximately $1,313,000. Goldman Sachs Group Inc. boosted its stake in shares of United Microelectronics Corporation by 411.5% in the second quarter. Goldman Sachs Group Inc. now owns 479,017 shares of the semiconductor company’s stock worth $1,169,000 after buying an additional 385,369 shares during the period. Renaissance Technologies LLC boosted its stake in shares of United Microelectronics Corporation by 39.0% in the second quarter. Renaissance Technologies LLC now owns 16,795,799 shares of the semiconductor company’s stock worth $40,982,000 after buying an additional 4,708,210 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of United Microelectronics Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 33,970,238 shares of the semiconductor company’s stock worth $82,887,000 after buying an additional 1,258,346 shares during the period. 5.69% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for United Microelectronics Corporation (NYSE:UMC)

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