Streetbeat News

UMC

United Microelectronics Corporation

https://www.umc.com

Industry

Semiconductors

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. United Microelectronics Corporation was incorporated in 1980 and is headquartered in Hsinchu City, Taiwan.

Open

6.92

Mkt cap

17B

Volume

8.2M

High

6.99

P/E Ratio

11.08

52-wk high

9.00

Low

6.91

Div yield

0.00

52-wk low

6.78

United Microelectronics Corporation (NYSE:UMC) reported a 3.07% year-over-year decrease in February sales, totaling NT$17.45 billion. The January-February period saw a slight revenue drop of 0.15% to NT$36.464 billion, with February revenues falling 8.2% from January. UMC anticipates a 2%-3% increase in Q1 wafer shipments but expects a 5% decrease in ASP in USD. The company plans a $3.3 billion capex for 2024 and forecasts capacity utilization in the low 60% range. UMC's shares fell 1.29% to $7.64 on Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 11:13 am

United Microelectronics Corporation (UMC) reported a 3.07% year-over-year increase in February 2024 revenue, reaching NT$17.45M. However, the combined revenue for January and February 2024 slightly declined by 0.15% compared to the same period in 2023.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:04 am

Benzinga Insights has identified 5 value stocks in the technology sector based on low P/E multiples, indicating potential undervaluation. The stocks include Canadian Solar (CSIQ), BOS Better Online Solns (BOSC), United Microelectronics (UMC), Daktronics (DAKT), and Tower Semiconductor (TSEM). The report highlights recent earnings per share and changes in dividend yields, suggesting these stocks may require time to rebound from their undervalued positions.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 2:41 pm

Intel Corp (NASDAQ:INTC) hosted Intel Foundry Direct Connect, where CEO Pat Gelsinger outlined the future of Intel, including the division into Intel Products and Intel Foundry. The event detailed updates to the Foundry services roadmap, including new business units, volume production updates, and partnerships. Notably, Intel is expanding its foundry services and has design wins with Microsoft Corp (NASDAQ:MSFT) and Arm Holdings Plc (NASDAQ:ARM) for SoCs. Additionally, Intel announced a partnership with United Microelectronics Corp (NYSE:UMC) for 12nm production. Despite these developments, Oppenheimer analyst Rick Schafer maintains a Perform rating on INTC, citing the company's ongoing efforts to achieve process leadership and foundry ambitions.

Portfolio Pulse from Anusuya Lahiri

February 22, 2024 | 7:37 pm

Ahead of NVIDIA's Q4 earnings report, shares of TSMC and ASML have declined, with TSMC dropping nearly 1% and ASML by 2.09%. Other semiconductor stocks like UMC and MediaTek also saw decreases. The market is closely watching NVIDIA, whose stock has risen over 200% in the past year due to the AI boom. Analysts warn that disappointing earnings from NVIDIA could lead to a significant sell-off, while others see it as a buying opportunity.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 9:15 am

The article highlights notable value stocks in the technology sector, focusing on companies with low P/E multiples indicating undervaluation. It lists Gen Digital, ClearOne, United Microelectronics, Wag Group, and Daqo New Energy, providing recent financial metrics such as earnings per share and dividend yields. The piece underscores the potential and risks of investing in value stocks, emphasizing the patience required for such investments to materialize.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 2:41 pm

United Microelectronics (UMC) reported a 2.94% year-over-year decline in sales for January 2024, with revenues dropping from 19,589,515 to 19,013,697.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:20 am

United Microelectronics Corp (UMC) reported a decline in Q4 FY23 revenue by 19% YoY to $1.79 billion, surpassing the consensus of $1.70 billion. Earnings per ADS were $0.17, beating the consensus of $0.15. The company saw growth in 22 and 28nm wafer revenue, which now represents 36% of total wafer sales. However, gross margin fell by 1,050 basis points to 32.4% due to lower utilization and weak demand. Co-President Jason Wang is optimistic about a mild increase in wafer demand for Q1 2024, despite cautious inventory management by customers. UMC expects Q1 wafer shipments to rise by 2%-3%, ASP in USD to decrease by 5%, and capacity utilization in the low 60% range. The company plans a 2024 capex of $3.3 billion. UMC shares dropped by 1.28% to $7.73.

Portfolio Pulse from Anusuya Lahiri

January 31, 2024 | 4:54 pm

A comprehensive list of companies is scheduled to report earnings on January 31, 2024, before and after the bell. The list includes a variety of sectors with projected earnings per share and revenue. Notable companies include Novartis, Boeing, Mastercard, and Qualcomm, among others. Some companies are expected to report losses, such as Regis and Silicon Laboratories.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 11:09 am

United Microelectronics (NYSE:UMC) reported Q4 earnings with an EPS of $0.173, beating estimates by 15.33% but with a revenue decrease of $420 million from the previous year. Despite beating EPS estimates last quarter, the share price dropped by 0.28% the following day.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 10:00 am

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