Sanford C. Bernstein downgraded shares of United Microelectronics Corporation (NYSE:UMC) from a market perform rating to an underperform rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have $2.10 target price on the semiconductor company’s stock, up from their prior target price of $1.90.

UMC has been the topic of a number of other reports. HSBC Holdings plc raised United Microelectronics Corporation from a hold rating to a buy rating in a report on Wednesday, April 26th. Citigroup Inc. cut United Microelectronics Corporation from a neutral rating to a sell rating in a report on Wednesday, July 26th. BidaskClub raised United Microelectronics Corporation from a hold rating to a buy rating in a report on Wednesday, June 28th. Instinet cut United Microelectronics Corporation from a neutral rating to a reduce rating in a report on Monday, July 3rd. Finally, Deutsche Bank AG cut United Microelectronics Corporation from a hold rating to a sell rating in a report on Thursday, June 29th. Eight equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Sell and an average price target of $2.10.

Shares of United Microelectronics Corporation (NYSE UMC) traded down 0.44% during mid-day trading on Thursday, hitting $2.28. The company’s stock had a trading volume of 655,833 shares. The stock’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.02. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 16.89 and a beta of 0.61. United Microelectronics Corporation has a 52-week low of $1.74 and a 52-week high of $2.57.

United Microelectronics Corporation (NYSE:UMC) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. United Microelectronics Corporation had a return on equity of 4.61% and a net margin of 6.52%. The company had revenue of $37.54 billion for the quarter, compared to analysts’ expectations of $37.15 billion. During the same period last year, the firm earned $0.37 EPS. United Microelectronics Corporation’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts forecast that United Microelectronics Corporation will post $0.11 EPS for the current year.

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The business also recently announced an annual dividend, which will be paid on Thursday, August 17th. Investors of record on Tuesday, July 11th will be issued a $0.0827 dividend. This is a boost from United Microelectronics Corporation’s previous annual dividend of $0.00. This represents a yield of 4.22%. The ex-dividend date is Friday, July 7th. United Microelectronics Corporation’s dividend payout ratio (DPR) is currently 46.16%.

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its stake in United Microelectronics Corporation by 137.6% in the second quarter. Bessemer Group Inc. now owns 65,505 shares of the semiconductor company’s stock worth $160,000 after buying an additional 37,930 shares in the last quarter. Acadian Asset Management LLC boosted its stake in United Microelectronics Corporation by 25.0% in the second quarter. Acadian Asset Management LLC now owns 19,572,156 shares of the semiconductor company’s stock worth $47,757,000 after buying an additional 3,909,952 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in United Microelectronics Corporation by 2.5% in the second quarter. Russell Investments Group Ltd. now owns 4,128,689 shares of the semiconductor company’s stock worth $10,074,000 after buying an additional 102,042 shares in the last quarter. Greenleaf Trust boosted its stake in United Microelectronics Corporation by 44.8% in the second quarter. Greenleaf Trust now owns 200,746 shares of the semiconductor company’s stock worth $490,000 after buying an additional 62,082 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in United Microelectronics Corporation by 8.2% in the second quarter. Aperio Group LLC now owns 9,942,198 shares of the semiconductor company’s stock worth $24,259,000 after buying an additional 753,045 shares in the last quarter. 6.51% 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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