The stock of United Microelectronics Corporation (NYSE:UMC) last traded at $6.98, down -1.55% from the previous session.
Data from the available sources indicates that United Microelectronics Corporation (NYSE:UMC) is covered by 4 analysts. 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 $7.09, this indicates a potential downside of -25.25 percent. UMC stock price is now -11.47% away from the 50-day moving average and -10.05% away from the 200-day moving average. The market capitalization of the company currently stands at $17.84B.
In total, 1 analysts have assigned it a hold rating, and 1 have given it a buy rating. 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 $6,003,000. RHUMBLINE ADVISERS invested $5,328,000 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 $2,213,000. ALLIANCEBERNSTEIN L.P. acquired a new stake in UMC for approximately $815,000. Y-INTERCEPT (HONG KONG) LTD purchased a new stake in UMC valued at around $789,000 in the second quarter. In total, there are 282 active investors with 5.40% ownership of the company’s stock.
With an opening price of $7.07 on Friday morning, United Microelectronics Corporation (NYSE: UMC) set off the trading day. 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 $7.86 and a two-hundred day moving average price translates $7.76 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 8.25% 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%.
