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Weak Fundamental Momentum Drags United Microelectronics Corporation (UMC) Lower

United Microelectronics Corporation (NYSE:UMC) has a beta value of 1.23 and has seen 5.41 million shares traded in the last trading session. The company, currently valued at $19.30B, closed the last trade at $7.83 per share which meant it lost -$0.15 on the day or -1.88% during that session. The UMC stock price is -30.91% off its 52-week high price of $10.25 and 31.55% above the 52-week low of $5.36. The 3-month trading volume is 9.15 million shares.

United Microelectronics Corporation (NYSE:UMC) trade information

Sporting -1.88% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the UMC stock price touched $7.83 or saw a rise of 1.88%. Year-to-date, United Microelectronics Corporation shares have moved 19.91%, while the 5-day performance has seen it change 2.35%. Over the past 30 days, the shares of United Microelectronics Corporation (NYSE:UMC) have changed 12.18%.

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Wall Street analysts have a consensus price target for the stock at $5.20, which means that the shares’ value could drop -50.58% from current levels. The projected low price target is $5.20 while the price target rests at a high of $5.20. In that case, then, we find that the current price level is 33.59% off the targeted high while a plunge would see the stock lose 33.59% from current levels.

United Microelectronics Corporation (UMC) estimates and forecasts

Figures show that United Microelectronics Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 13.97% over the past 6 months, with this year growth rate of -34.48%, compared to 2.70% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 13.00% and -17.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 18.40%.

1 analysts offering their estimates for the company have set an average revenue estimate of $2.1 billion for the current quarter. 1 have an estimated revenue figure of $1.9 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $2.14 billion and $2.26 billion respectively for this quarter and the next, and analysts expect sales will shrink by -1.80% for the current quarter and -15.80% 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 2023 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 February 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 10.27%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 3.85%.

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

Insiders own 0.00% of the company shares, while shares held by institutions stand at 5.10% with a share float percentage of 5.10%. Investors are also buoyed by the number of investors in a company, with United Microelectronics Corporation having a total of 269 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 21.76 million shares worth more than $147.34 million. As of Jun 29, 2022, Blackrock Inc. held 0.87% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 16.4 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $111.05 million and represent 0.66% 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 Jul 30, 2022, the former fund manager holds about 0.44% shares in the company for having 11.09 million shares of worth $75.62 million while later fund manager owns 6.71 million shares of worth $37.37 million as of Sep 29, 2022, which makes it owner of about 0.27% of company’s outstanding stock.

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