HSBC Holdings plc lowered shares of United Microelectronics Corporation (NYSE:UMC) from a buy rating to a hold rating in a research note released on Wednesday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Macquarie cut United Microelectronics Corporation from a neutral rating to an underperform rating in a research report on Thursday, June 29th. UBS AG upgraded United Microelectronics Corporation from a neutral rating to a buy rating in a report on Wednesday, June 28th. Nomura cut United Microelectronics Corporation from a neutral rating to a reduce rating in a report on Friday, June 30th. BidaskClub cut United Microelectronics Corporation from a buy rating to a hold rating in a report on Tuesday, June 20th. Finally, Daiwa Capital Markets cut United Microelectronics Corporation from a hold rating to an underperform rating in a report on Wednesday. Eight analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Sell and a consensus price target of $2.10.

Shares of United Microelectronics Corporation (UMC) opened at 2.29 on Wednesday. United Microelectronics Corporation has a 1-year low of $1.74 and a 1-year high of $2.57. The company has a market cap of $5.59 billion, a PE ratio of 16.96 and a beta of 0.61. The company has a 50-day moving average price of $2.26 and a 200-day moving average price of $2.02.

United Microelectronics Corporation (NYSE:UMC) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $37.54 billion during the quarter, compared to analysts’ expectations of $37.15 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that United Microelectronics Corporation will post $0.11 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/united-microelectronics-corporation-umc-rating-lowered-to-hold-at-hsbc-holdings-plc/1462761.html.

The company also recently disclosed an annual dividend, which will be paid on Thursday, August 17th. Stockholders 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 dividend yield of 4.22%. The ex-dividend date is Friday, July 7th. United Microelectronics Corporation’s dividend payout ratio is presently 46.16%.

Several institutional investors have recently bought and sold shares of UMC. Karp Capital Management Corp purchased a new position in United Microelectronics Corporation during the first quarter worth about $17,735,000. Morgan Stanley boosted its position in United Microelectronics Corporation by 9,690.5% in the first quarter. Morgan Stanley now owns 6,128,440 shares of the semiconductor company’s stock worth $11,827,000 after buying an additional 6,065,844 shares during the last quarter. Acadian Asset Management LLC boosted its position 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 during the last quarter. JPMorgan Chase & Co. boosted its position in United Microelectronics Corporation by 778.8% in the first quarter. JPMorgan Chase & Co. now owns 3,651,852 shares of the semiconductor company’s stock worth $7,048,000 after buying an additional 3,236,297 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in United Microelectronics Corporation by 22.4% in the first quarter. Renaissance Technologies LLC now owns 12,087,589 shares of the semiconductor company’s stock worth $23,329,000 after buying an additional 2,215,200 shares during the last quarter. Hedge funds and other institutional investors own 6.32% of the company’s stock.

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.

The Fly

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.