United Micro Electronics ADR (NYSE: UMC) In 2024: Reward Or Shame To Investors?

In the last trading session, 6.59 million shares of the United Micro Electronics ADR (NYSE:UMC) were traded, and its beta was 1.15. Most recently the company’s share price was $8.13, and it changed around $0.04 or 0.49% from the last close, which brings the market valuation of the company to $20.37B. UMC currently trades at a discount to its 52-week high of $8.97, offering almost -10.33% off that amount. The share price’s 52-week low was $6.71, which indicates that the current value has risen by an impressive 17.47% since then. We note from United Micro Electronics ADR’s average daily trading volume that its 10-day average is 7.32 million shares, with the 3-month average coming to 7.58 million.

United Micro Electronics ADR stock received a consensus recommendation rating of Hold, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended UMC as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. United Micro Electronics ADR is expected to report earnings per share of $0.13 for the current quarter.

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United Micro Electronics ADR (NYSE:UMC) trade information

Instantly UMC has showed a green trend with a performance of 0.49% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -3.90% year-to-date, but still down -0.37% over the last five days. On the other hand, United Micro Electronics ADR (NYSE:UMC) is 5.86% up in the 30-day period. We can see from the shorts that 58.47 million shares have been sold at a short interest cover period of 8.51 day(s).

The consensus price target as assigned by Wall Street analysts is $9.93, which translates to bulls needing to increase their stock price by 18.13% from its current value. Analyst projections state that UMC is forecast to be at a low of $9.93 and a high of $9.93.

United Micro Electronics ADR (UMC) estimates and forecasts

United Micro Electronics ADR 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 14.99 percent over the past six months and at a -21.25% annual growth rate that is well below the industry average of 1.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -38.10% in revenue this quarter, and will report a decrease of -35.00% in the next quarter. The year-over-year growth rate is expected to be 5.70%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.73 billion in revenue for the current quarter. 2 analysts expect United Micro Electronics ADR to make $1.74 billion in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 52.18%. United Micro Electronics ADR earnings are expected to increase by -16.56% in 2024, but the outlook is negative -6.70% per year for the next five years.

UMC Dividends

United Micro Electronics ADR’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 7.08 percent and its annual dividend per share was 0.58. It is important to note, however, that the 7.08% 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 Micro Electronics ADR (NYSE:UMC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.00% of United Micro Electronics ADR shares, and 5.30% of them are in the hands of institutional investors. The stock currently has a share float of 5.30%. United Micro Electronics ADR stock is held by 318 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 0.82% of the shares, which is about 20.47 million shares worth $161.5 million.

Vanguard Group Inc, with 0.62% or 15.55 million shares worth $122.66 million as of Jun 29, 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 Jul 30, 2023. The former held 9.29 million shares worth $69.77 million, making up 0.37% of all outstanding shares. On the other hand, iShares Semiconductor ETF held roughly 7.68 million shares worth around $55.06 million, which represents about 0.31% of the total shares outstanding.