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Now Is A Good Time To Buy United Microelectronics Corporation (NYSE: UMC)

During the recent session, United Microelectronics Corporation (NYSE:UMC)’s traded shares were 1.55 million, with the beta value of the company hitting 1.08. At the last check today, the stock’s price was $7.07, reflecting an intraday gain of 4.04% or $0.27. The 52-week high for the UMC share is $11.89, that puts it down -68.18 from that peak though still a striking 11.74% gain since the share price plummeted to a 52-week low of $6.24. The company’s market capitalization is $16.15B, and the average intraday trading volume over the past 10 days was 8.53 million shares, and the average trade volume was 9.10 million shares over the past three months.

United Microelectronics Corporation (NYSE:UMC) trade information

United Microelectronics Corporation (UMC) registered a 4.04% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.04% in intraday trading to $7.07 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 1.19%, and it has moved by 6.92% in 30 days. Based on these gigs, the overall price performance for the year is -33.75%. The short interest in United Microelectronics Corporation (NYSE:UMC) is 57.22 million shares and it means that shorts have 5.7 day(s) to cover.

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United Microelectronics Corporation (UMC) estimates and forecasts

Statistics show that United Microelectronics Corporation has outperformed its competitors in share price, compared to the industry in which it operates. United Microelectronics Corporation (UMC) shares have gone down -25.90% during the last six months, with a year-to-date growth rate more than the industry average at 46.99% against 15.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 15.40% this quarter and then jump 17.40% in the quarter after that. In the rating firms’ projections, revenue will increase 21.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.4 billion as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $2.31 billion by the end of Dec 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.01 billion and $2.14 billion respectively. In this case, analysts expect current quarter sales to grow by 19.60% and then jump by 8.10% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 47.80%. While earnings are projected to return 90.90% in 2022, the next five years will return 34.10% per annum.

UMC Dividends

United Microelectronics Corporation is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for United Microelectronics Corporation is 0.80, with the dividend yield indicating at 11.82 percent, continuing the trend of increasing dividends in recent years.

United Microelectronics Corporation (NYSE:UMC)’s Major holders

United Microelectronics Corporation insiders own 0.00% of total outstanding shares while institutional holders control 5.23%, with the float percentage being 5.23%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 292 institutions own stock in it. As of Mar 30, 2022, the company held over 16.37 million shares (or 0.66% of all shares), a total value of $149.25 million in shares.

The next largest institutional holding, with 16.34 million shares, is of Blackrock Inc.’s that is approximately 0.65% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $148.99 million.

Also, the Mutual Funds coming in first place with the largest holdings of United Microelectronics Corporation (UMC) shares are Vanguard International Stock Index-Emerging Markets Stk and iShares Semiconductor ETF. Data provided on Apr 29, 2022 indicates that Vanguard International Stock Index-Emerging Markets Stk owns about 11.09 million shares. This amounts to just over 0.44 percent of the company’s overall shares, with a $88.26 million market value. The same data shows that the other fund manager holds slightly less at 6.81 million, or about 0.27% of the stock, which is worth about $46.13 million.

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