United Microelectronics (NYSE:UMC) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

United Microelectronics (NYSE:UMC) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03, Zacks reports. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. United Microelectronics had a net margin of 23.90% and a return on equity of 14.66%. During the same quarter in the previous year, the company earned $0.20 EPS.

United Microelectronics Price Performance

Shares of NYSE UMC traded down $0.20 during midday trading on Friday, reaching $7.88. 19,692,092 shares of the stock traded hands, compared to its average volume of 15,334,763. The company’s 50 day moving average is $8.39 and its 200 day moving average is $8.11. United Microelectronics has a one year low of $6.71 and a one year high of $9.00. The stock has a market capitalization of $19.75 billion, a PE ratio of 11.26, a P/E/G ratio of 4.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.32 and a quick ratio of 1.93.

United Microelectronics Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group upgraded shares of United Microelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of United Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th.

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.