United Microelectronics (NYSE:UMC) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of United Microelectronics (NYSE:UMC) from a neutral rating to a buy rating in a research report report published on Thursday, MarketBeat.com reports.

UMC has been the topic of several other reports. 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 report on Tuesday, June 11th.

United Microelectronics Stock Performance

United Microelectronics stock opened at $7.88 on Thursday. The firm has a market capitalization of $19.75 billion, a P/E ratio of 11.26, a P/E/G ratio of 4.29 and a beta of 1.18. The stock has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $8.11. United Microelectronics has a 52-week low of $6.71 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.32 and a quick ratio of 1.93.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.66%. During the same period last year, the firm posted $0.20 EPS. As a group, analysts anticipate that United Microelectronics will post 0.64 EPS for the current fiscal year.

United Microelectronics Cuts Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 2nd were paid a dividend of $0.356 per share. The ex-dividend date was Tuesday, July 2nd. This represents a dividend yield of 4.07%. United Microelectronics’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock valued at $134,250,000 after buying an additional 434,018 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings 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 acquiring an additional 355,186 shares during the last quarter. Genesis Investment Management LLP increased its position in United Microelectronics by 81.7% in the second quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock worth $33,983,000 after purchasing an additional 1,744,721 shares during the period. Schroder Investment Management Group raised its holdings in United Microelectronics by 2,256.8% during the 4th quarter. Schroder Investment Management Group now owns 3,476,881 shares of the semiconductor company’s stock worth $29,414,000 after purchasing an additional 3,329,354 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of United Microelectronics in the 4th quarter valued at about $5,860,000. 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.