United Microelectronics Corporation (NYSE:UMC) Short Interest Update

by · The Markets Daily

United Microelectronics Corporation (NYSE:UMCGet Free Report) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 34,193,634 shares, a growth of 66.7% from the July 15th total of 20,511,587 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 17,966,337 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On United Microelectronics

Several hedge funds have recently bought and sold shares of UMC. CoreCap Advisors LLC lifted its position in shares of United Microelectronics by 271.0% during the second quarter. CoreCap Advisors LLC now owns 1,369 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of United Microelectronics in the second quarter worth about $41,000. Strategic Investment Solutions Inc. IL bought a new position in shares of United Microelectronics in the second quarter worth about $76,000. Smartleaf Asset Management LLC bought a new position in shares of United Microelectronics in the second quarter worth about $27,000. Finally, TD Private Client Wealth LLC purchased a new position in United Microelectronics in the 4th quarter worth about $32,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UMC shares. Wall Street Zen upgraded United Microelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded United Microelectronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of United Microelectronics in a research note on Thursday, May 28th. Arete Research upgraded United Microelectronics from a “neutral” rating to a “buy” rating in a report on Monday, August 10th. Finally, Zacks Research raised United Microelectronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.60.

Read Our Latest Stock Report on United Microelectronics

United Microelectronics Trading Down 5.3%

NYSE UMC traded down $1.03 during trading on Tuesday, hitting $18.50. The stock had a trading volume of 17,413,155 shares, compared to its average volume of 13,820,101. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.81 and a current ratio of 2.17. The stock has a market capitalization of $46.58 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 0.45 and a beta of 1.60. United Microelectronics has a one year low of $6.56 and a one year high of $28.96. The stock has a 50 day simple moving average of $22.12 and a 200 day simple moving average of $15.84.

United Microelectronics (NYSE:UMCGet Free Report) last released its earnings results on Tuesday, June 30th. The semiconductor company reported $0.53 EPS for the quarter. United Microelectronics had a return on equity of 21.00% and a net margin of 33.18%.The firm had revenue of $2.16 billion for the quarter. Sell-side analysts predict that United Microelectronics will post 1.23 earnings per share for the current year.

United Microelectronics Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, August 6th. Investors of record on Wednesday, July 8th were issued a dividend of $0.4122 per share. This represents a yield of 166.0%. The ex-dividend date was Wednesday, July 8th. This is an increase from United Microelectronics’s previous annual dividend of $0.37. United Microelectronics’s dividend payout ratio (DPR) is presently 28.04%.

United Microelectronics Company Profile

(Get Free Report)

United Microelectronics Corporation (UMC) is a Taiwan-based semiconductor foundry that provides wafer fabrication and related manufacturing services to a global customer base. Founded in 1980, the company operates as a pure-play foundry, producing integrated circuits for a range of customers including fabless semiconductor companies and integrated device manufacturers. UMC is publicly listed (NYSE: UMC) and focuses on high-reliability manufacturing rather than branding consumer products.

UMC’s core services encompass wafer fabrication using a portfolio of process technologies, with particular emphasis on mature and specialty nodes that support analog, power-management, radio-frequency (RF), and mixed-signal applications.

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