Citigroup Inc. downgraded shares of United Microelectronics Corporation (NYSE:UMC) from a neutral rating to a sell rating in a research note released on Wednesday.

UMC has been the topic of a number of other reports. UBS AG upgraded shares of United Microelectronics Corporation from a neutral rating to a buy rating in a research note on Wednesday, June 28th. Nomura lowered shares of United Microelectronics Corporation from a neutral rating to a reduce rating in a research note on Friday, June 30th. BidaskClub upgraded shares of United Microelectronics Corporation from a hold rating to a buy rating in a research note on Wednesday, June 28th. Deutsche Bank AG lowered shares of United Microelectronics Corporation from a hold rating to a sell rating in a research note on Thursday, June 29th. Finally, HSBC Holdings plc upgraded shares of United Microelectronics Corporation from a hold rating to a buy rating in a research note on Wednesday, April 26th. Eight equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Sell and a consensus price target of $2.10.

Shares of United Microelectronics Corporation (UMC) opened at 2.29 on Wednesday. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 16.96 and a beta of 0.61. The firm has a 50-day moving average of $2.26 and a 200 day moving average of $2.02. 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 posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $37.54 billion for the quarter, compared to analyst estimates of $37.15 billion. United Microelectronics Corporation had a net margin of 6.52% and a return on equity of 4.61%. United Microelectronics Corporation’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Equities analysts forecast that United Microelectronics Corporation will post $0.11 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://www.watchlistnews.com/citigroup-inc-downgrades-united-microelectronics-corporation-nyseumc-to-sell/1462759.html.

The firm also recently disclosed an annual dividend, which will be paid on Thursday, August 17th. Shareholders of record on Tuesday, July 11th will be paid a $0.0827 dividend. The ex-dividend date of this dividend is Friday, July 7th. This is a positive change from United Microelectronics Corporation’s previous annual dividend of $0.00. This represents a yield of 4.22%. United Microelectronics Corporation’s payout ratio is currently 46.16%.

Several hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC increased its stake in shares of United Microelectronics Corporation by 104.3% in the first quarter. Citadel Advisors LLC now owns 58,386 shares of the semiconductor company’s stock valued at $113,000 after buying an additional 29,814 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of United Microelectronics Corporation during the first quarter valued at $130,000. AXA purchased a new stake in shares of United Microelectronics Corporation during the first quarter valued at $154,000. Bessemer Group Inc. increased its stake in shares of United Microelectronics Corporation by 137.6% in the second quarter. Bessemer Group Inc. now owns 65,505 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 37,930 shares during the last quarter. Finally, Cypress Wealth Advisors LLC purchased a new stake in shares of United Microelectronics Corporation during the first quarter valued at $178,000. 6.32% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics Corporation

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)

Receive News & Ratings for United Microelectronics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Microelectronics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.