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Future Outlook And Stock Price Performance For United Microelectronics Corporation (NYSE: UMC)

In the last trading session, 4.92 million shares of the United Microelectronics Corporation (NYSE:UMC) were traded, and its beta was 1.28. Most recently the company’s share price was $7.85, and it changed around -$0.04 or -0.51% from the last close, which brings the market valuation of the company to $19.82B. UMC currently trades at a discount to its 52-week high of $8.95, offering almost -14.01% off that amount. The share price’s 52-week low was $5.36, which indicates that the current value has risen by an impressive 31.72% since then. We note from United Microelectronics Corporation’s average daily trading volume that its 10-day average is 5.88 million shares, with the 3-month average coming to 6.33 million.

United Microelectronics Corporation (NYSE:UMC) trade information

Instantly UMC has showed a red trend with a performance of -0.51% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 8.28 on Tuesday, 05/23/23 increased the stock’s daily price by 5.19%. The company’s shares are currently up 20.21% year-to-date, but still down -0.51% over the last five days. On the other hand, United Microelectronics Corporation (NYSE:UMC) is -1.75% down in the 30-day period. We can see from the shorts that 48.71 million shares have been sold at a short interest cover period of 7.77 day(s).

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United Microelectronics Corporation (UMC) estimates and forecasts

United Microelectronics Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.65 percent over the past six months and at a -32.76% annual growth rate that is well below the industry average of -6.80%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -48.30% in revenue this quarter, and will report a decrease of -47.10% in the next quarter. The year-over-year growth rate is expected to be -17.20%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.78 billion in revenue for the current quarter. 2 analysts expect United Microelectronics Corporation to make $1.91 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $2.42 billion and $2.38 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -26.50%. Forecasts for the next quarter put sales growth at -19.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 56.30%. United Microelectronics Corporation earnings are expected to increase by 53.30% in 2023, but the outlook is negative -8.10% per year for the next five years.

UMC Dividends

United Microelectronics Corporation’s next quarterly earnings report is expected to be released in June. The annual dividend yield of the stock is 3.66 percent and its annual dividend per share was 0.29. It is important to note, however, that the 3.66% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.00% of United Microelectronics Corporation shares, and 5.42% of them are in the hands of institutional investors. The stock currently has a share float of 5.42%. United Microelectronics Corporation stock is held by 283 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 0.82% of the shares, which is about 20.54 million shares worth $179.91 million.

Vanguard Group, Inc. (The), with 0.64% or 15.89 million shares worth $139.23 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard International Stock Index-Emerging Markets Stk and iShares Semiconductor ETF were the top two Mutual Funds as of Jan 30, 2023. The former held 9.77 million shares worth $79.41 million, making up 0.39% of all outstanding shares. On the other hand, iShares Semiconductor ETF held roughly 6.33 million shares worth around $51.49 million, which represents about 0.25% of the total shares outstanding.

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