United Microelectronics Corporation (NYSE:UMC) shares traded -2.87% lower at $7.11 on Wall Street last session.
In accordance with the data, 4 analysts cover United Microelectronics Corporation (NYSE:UMC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $5.30 and a low of $5.30, we find $5.30. Given the previous closing price of $7.32, this indicates a potential downside of -27.6 percent. UMC stock price is now -10.68% away from the 50-day moving average and -8.19% away from the 200-day moving average. The market capitalization of the company currently stands at $18.06B.
It has been rated a hold by 1 analysts and a buy by 1. Brokers who have rated the stock have averaged $5.30 as their price target over the next twelve months.
With the price target reduced from $6.80 to $6.46, HSBC Securities Downgraded its rating from Hold to Reduce for United Microelectronics Corporation (NYSE: UMC).
There have been several recent changes in the stakes of large investors in UMC stock. A new stake in United Microelectronics Corporation shares was purchased by MACQUARIE GROUP LTD during the first quarter worth $6,115,000. RHUMBLINE ADVISERS invested $5,427,000 in shares of UMC during the first quarter. In the first quarter, SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in United Microelectronics Corporation valued at approximately $2,254,000. ALLIANCEBERNSTEIN L.P. acquired a new stake in UMC for approximately $830,000. Y-INTERCEPT (HONG KONG) LTD purchased a new stake in UMC valued at around $803,000 in the second quarter.
United Microelectronics Corporation (NYSE: UMC) opened at $7.12 on Tuesday. During the past 12 months, United Microelectronics Corporation has had a low of $5.36 and a high of $8.97. As of last week, the company has a debt-to-equity ratio of 0.16, a current ratio of 1.70, and a quick ratio of 1.40. The fifty day moving average price for UMC is $7.94 and a two-hundred day moving average price translates $7.75 for the stock.
The latest earnings results from United Microelectronics Corporation (NYSE: UMC) was released for Jun, 2023. According to the Semiconductors Company, earnings per share came in at $0.2, beating analysts’ expectations of $0.16 by 0.04. This compares to $0.29 EPS in the same period last year. The net profit margin was 30.70% and return on equity was 23.40% for UMC. The company reported revenue of $1.78 billion for the quarter, compared to $2.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -21.23 percent. For the current quarter, analysts expect UMC to generate $1.77B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/26/2023. Investors who held shares on 06/27/2023 were paid a $0.5859938 dividend. On an annualized basis, this represents a $0.58 dividend and a 8.10% percent yield. There was an ex-dividend date of 06/26/2023 for this dividend. In terms of dividend payout ratio, UMC is presently at 51.63%.
United Microelectronics Corporation(UMC) Company Profile
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. The company was incorporated in 1980 and is headquartered in Hsinchu City, Taiwan.
