United Microelectronics Corporation (NYSE:UMC) currently has a daily average trading volume of 6.39M but it saw 13825493 shares traded on Thursday. With a market cap of 20.25B USD, stock’s current market price of $8.02 came rising about 1.91 while comparing to the previous closing price of $7.87. In past 52 weeks, the stock remained buoying in the range of price level as high as $8.95 and as low as $5.36. In the recent trading on the day, stock has struck highest price mark of $8.05 while lowest mark touched by it was $7.84.
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Taking a look at 20-day trading activity of United Microelectronics Corporation (UMC) gives us an average price of $8.00, while its current price level is -10.44% below from 52-week high level whereas it is 49.63% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $8.27 while that of 200 days or SMA-200 reads an average of $7.35. A closer look into the stock’s movement over the week reveals that its volatility is standing at 1.72% during that period while stretching the period over a month that decreases to 1.70%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 48.84 which implies that the stock is in neutral territory.
United Microelectronics Corporation (UMC)’s stock is currently under the radar of 2 analysts who are in consensus at a 12-month price target range of between $5.30 and $5.30 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $5.30 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $5.30. Average price target assigned by them is $5.30 which highlights a downside potential of -51.32% for the stock over that period. And to attain the median price target of $5.30 assigned by those analysts, stock has to subtract about -51.32% of value to its current levels.
Data by FactSet Research shows that 2 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 1 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, UMC’s stock price is moving -2.91% down while it is 4.29% when we observe its performance for the past one month. Year-to-date it is 22.82% up and over the past year, the stock is showing an upside performance of 3.96%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.21 beat the consensus estimate of $0.16 for the same. The company is expected to be releasing its next quarterly report in 07/26/2023, for which analysts forecasted an EPS of $0.15 while estimate for next year EPS is $0.74. For UMC, analysts are forecasting an EPS-growth rate of -36.20% for current year and estimate for EPS growth in next year is 10.80%. In next quarter, company is expected to be making quarterly sales of $1.91 billion as analysts are expecting the sales for current fiscal year at $7.52 billion and seeing the company making $8.74 billion in sales next year. Moreover, analysts are in estimates of $1.78 billion for current-quarter revenue.
Currently, United Microelectronics Corporation’s total number of outstanding shares is 2.47B with 0.00% of that held by the insiders while 5.42% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 22.20% and return on equity (ROE) at 26.00%. It has a price to earnings ratio (P/E ratio) of 7.42 while having a 9.78 of forward P/E ratio. Stock’s beta reads 1.28. Stock has a price to book (P/B) ratio of 1.71 while price to sale or P/S ratio amounts to 2.31. Its return on asset (ROA) is 15.90% on average.
As per SEC documents, Vanguard Emerging Markets Stock I sought 9,767,609 of company’s common stock of worth $78.43 million as per recent closing price of the stock. Vanguard Emerging Markets Stock I is not the only institutional holder which restructured its stake in United Microelectronics Corporation, as iShares Semiconductor ETF picked 6,409,854 shares of worth $51.47 million to bring its holdings to a total of 36214.0 shares. In the most recent quarter, Direxion Daily Semiconductor Bull came cutting its stake by -4.31% in the company and now holds 3.1 million or 0.12% of the company’s stake having worth of about 24.92 million.
