United Microelectronics (NYSE:UMC) Stock Crosses Above 50 Day Moving Average of $2.09

United Microelectronics Corp (NYSE:UMC) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.09 and traded as high as $2.32. United Microelectronics shares last traded at $2.32, with a volume of 35,989 shares changing hands.

Several equities analysts have weighed in on UMC shares. JPMorgan Chase & Co. dropped their price objective on Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a report on Wednesday, April 24th. Credit Suisse Group upgraded United Microelectronics from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 24th. Macquarie initiated coverage on Lundin Mining in a research note on Wednesday. They issued a “neutral” rating on the stock. Finally, Goldman Sachs Group set a €40.50 ($47.09) price target on Koninklijke Philips and gave the company a “buy” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. United Microelectronics presently has a consensus rating of “Hold” and a consensus price target of $1.78.

The firm’s 50 day simple moving average is $2.11. The company has a current ratio of 2.79, a quick ratio of 2.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.63 billion, a P/E ratio of 33.14 and a beta of 0.95.

United Microelectronics (NYSE:UMC) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. United Microelectronics had a return on equity of 2.31% and a net margin of 3.33%. The company had revenue of $32.58 billion for the quarter, compared to analyst estimates of $32.76 billion. During the same quarter last year, the company posted $0.28 EPS. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year.

The firm also recently declared an annual dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, July 16th will be paid a $0.0936 dividend. The ex-dividend date is Monday, July 15th. This represents a dividend yield of 5.45%.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its position in United Microelectronics by 256,831,800.0% during the 1st quarter. FMR LLC now owns 2,568,319 shares of the semiconductor company’s stock worth $4,828,000 after acquiring an additional 2,568,318 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in United Microelectronics by 23.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,775,653 shares of the semiconductor company’s stock worth $14,618,000 after acquiring an additional 1,497,157 shares during the last quarter. Hsbc Holdings PLC grew its position in United Microelectronics by 400.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,687,500 shares of the semiconductor company’s stock worth $3,021,000 after acquiring an additional 1,350,000 shares during the last quarter. Northern Trust Corp grew its position in United Microelectronics by 76.5% during the 4th quarter. Northern Trust Corp now owns 2,676,785 shares of the semiconductor company’s stock worth $4,791,000 after acquiring an additional 1,159,883 shares during the last quarter. Finally, Millennium Management LLC grew its position in United Microelectronics by 140.3% during the 4th quarter. Millennium Management LLC now owns 1,920,712 shares of the semiconductor company’s stock worth $3,438,000 after acquiring an additional 1,121,267 shares during the last quarter. Institutional investors own 5.32% of the company’s stock.

United Microelectronics Company Profile (NYSE:UMC)

United Microelectronics Corporation provides semiconductor wafer foundry solutions. The company operates through Wafer Fabrication and New Business segments. It provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. The company also engages in the research, development, and manufacture of products in the solar energy and light-emitting diode industries.

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