Ritholtz Wealth Management Sells 4,760 Shares of United Microelectronics Co. (NYSE:UMC)

Ritholtz Wealth Management lowered its stake in United Microelectronics Co. (NYSE:UMC) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,258 shares of the semiconductor company’s stock after selling 4,760 shares during the quarter. Ritholtz Wealth Management’s holdings in United Microelectronics were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in UMC. Commonwealth Equity Services LLC lifted its stake in United Microelectronics by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 71,459 shares of the semiconductor company’s stock valued at $626,000 after purchasing an additional 1,756 shares during the last quarter. Signaturefd LLC lifted its stake in shares of United Microelectronics by 1.4% in the 2nd quarter. Signaturefd LLC now owns 229,462 shares of the semiconductor company’s stock valued at $2,010,000 after acquiring an additional 3,165 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of United Microelectronics by 13.3% during the 2nd quarter. Hennessy Advisors Inc. now owns 15,627 shares of the semiconductor company’s stock valued at $137,000 after acquiring an additional 1,836 shares in the last quarter. Blue Trust Inc. grew its position in United Microelectronics by 123.7% during the 2nd quarter. Blue Trust Inc. now owns 76,985 shares of the semiconductor company’s stock worth $623,000 after acquiring an additional 42,575 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in United Microelectronics in the 2nd quarter worth about $113,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on UMC shares. StockNews.com upgraded United Microelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. The Goldman Sachs Group raised shares of United Microelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, August 1st.

United Microelectronics Stock Down 6.1 %

Shares of UMC opened at $8.24 on Wednesday. The stock’s 50-day moving average price is $8.35 and its two-hundred day moving average price is $8.21. United Microelectronics Co. has a 12 month low of $6.81 and a 12 month high of $9.00. The company has a market capitalization of $20.64 billion, a PE ratio of 11.77, a PEG ratio of 4.77 and a beta of 1.18. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

United Microelectronics (NYSE:UMC) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, analysts anticipate that United Microelectronics Co. will post 0.64 EPS for the current year.

United Microelectronics Cuts Dividend

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

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.