Wedbush Analysts Raise Earnings Estimates for UMC

United Microelectronics Co. (NYSE:UMC) – Research analysts at Wedbush raised their Q4 2024 earnings per share (EPS) estimates for shares of United Microelectronics in a report released on Wednesday, October 30th. Wedbush analyst M. Bryson now forecasts that the semiconductor company will post earnings per share of $0.17 for the quarter, up from their prior estimate of $0.16. The consensus estimate for United Microelectronics’ current full-year earnings is $0.63 per share. Wedbush also issued estimates for United Microelectronics’ Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $0.89 EPS and FY2026 earnings at $1.18 EPS.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered United Microelectronics from an “overweight” rating to a “neutral” rating in a research report on Wednesday. StockNews.com downgraded shares of United Microelectronics from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group cut shares of United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 target price for the company. in a report on Thursday, October 17th. Finally, Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.40.

United Microelectronics Stock Performance

Shares of UMC stock opened at $7.06 on Friday. United Microelectronics has a 1 year low of $6.78 and a 1 year high of $9.00. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 3.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.37. The business has a fifty day moving average of $8.20 and a 200 day moving average of $8.26.

United Microelectronics (NYSE:UMC) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. United Microelectronics had a return on equity of 14.35% and a net margin of 22.89%.

Hedge Funds Weigh In On United Microelectronics

Large investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its position in United Microelectronics by 682.1% during the second quarter. Marshall Wace LLP now owns 5,248,227 shares of the semiconductor company’s stock worth $45,974,000 after purchasing an additional 4,577,177 shares in the last quarter. Genesis Investment Management LLP grew its stake in United Microelectronics by 81.7% in the 2nd quarter. Genesis Investment Management LLP now owns 3,879,321 shares of the semiconductor company’s stock valued at $33,983,000 after acquiring an additional 1,744,721 shares during the period. Vanguard Group Inc. increased its holdings in United Microelectronics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company’s stock worth $134,250,000 after acquiring an additional 434,018 shares in the last quarter. Acadian Asset Management LLC raised its position in United Microelectronics by 114.4% during the second quarter. Acadian Asset Management LLC now owns 439,765 shares of the semiconductor company’s stock worth $3,849,000 after acquiring an additional 234,606 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in United Microelectronics by 6,339.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 137,808 shares of the semiconductor company’s stock valued at $1,160,000 after purchasing an additional 135,668 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.