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How Is United Microelectronics Corporation. (NYSE: UMC) Expected To Fare In The Coming Months?

United Microelectronics Corporation (NYSE:UMC) has a beta value of 1.08 and has seen 6.05 million shares traded in the last trading session. The company, currently valued at $15.85B, closed the last trade at $6.25 per share which meant it lost -$0.15 on the day or -2.34% during that session. The UMC stock price is -90.24% off its 52-week high price of $11.89 and 0.16% above the 52-week low of $6.24. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.38 million shares traded. The 3-month trading volume is 8.55 million shares.

The consensus among analysts is that United Microelectronics Corporation (UMC) is a Hold stock at the moment, with a recommendation rating of 3.30. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 1 out of 3 have rated it as a Hold, with 0 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.3.

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United Microelectronics Corporation (NYSE:UMC) trade information

Sporting -2.34% in the red in last session, with the highest price hit on Tuesday, 09/20/22 when the UMC stock price touched $6.25 or saw a rise of 3.7%. Year-to-date, United Microelectronics Corporation shares have moved -43.01%, while the 5-day performance has seen it change 0.00%. Over the past 30 days, the shares of United Microelectronics Corporation (NYSE:UMC) have changed -10.20%. Short interest in the company has seen 57.22 million shares shorted with days to cover at 5.7.

Wall Street analysts have a consensus price target for the stock at $6.10, which means that the shares’ value could drop -2.46% from current levels. The projected low price target is $6.10 while the price target rests at a high of $6.10. In that case, then, we find that the current price level is 2.4% off the targeted high while a plunge would see the stock lose 2.4% from current levels.

United Microelectronics Corporation (UMC) estimates and forecasts

Figures show that United Microelectronics Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -29.14% over the past 6 months, with this year growth rate of 46.99%, compared to 13.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 15.40% and 17.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be 21.50%.

1 analysts offering their estimates for the company have set an average revenue estimate of $2.4 billion for the current quarter. 1 have an estimated revenue figure of $2.31 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $2.01 billion and $2.14 billion respectively for this quarter and the next, and analysts expect sales will grow by 19.60% for the current quarter and 8.10% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 47.80% over the past 5 years. Earnings growth for 2022 is a modest 90.90% while over the next 5 years, the company’s earnings are expected to increase by 34.10%.

UMC Dividends

United Microelectronics Corporation is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.80 at a share yield of 12.86%. The company’s dividend yield has gone up over the past 12 months.

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

Insiders own 0.00% of the company shares, while shares held by institutions stand at 5.23% with a share float percentage of 5.23%. Investors are also buoyed by the number of investors in a company, with United Microelectronics Corporation having a total of 292 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 16.37 million shares worth more than $149.25 million. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 0.66% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 16.34 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $148.99 million and represent 0.65% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard International Stock Index-Emerging Markets Stk and iShares Semiconductor ETF. As of Apr 29, 2022, the former fund manager holds about 0.44% shares in the company for having 11.09 million shares of worth $88.26 million while later fund manager owns 6.81 million shares of worth $46.13 million as of Jun 29, 2022, which makes it owner of about 0.27% of company’s outstanding stock.

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