Wedbush Has Positive Outlook for UMC FY2024 Earnings

United Microelectronics Co. (NYSE:UMC) – Wedbush raised their FY2024 earnings per share (EPS) estimates for United Microelectronics in a research note issued on Wednesday, October 30th. Wedbush analyst M. Bryson now expects that the semiconductor company will earn $0.79 per share for the year, up from their previous estimate of $0.62. The consensus estimate for United Microelectronics’ current full-year earnings is $0.72 per share. Wedbush also issued estimates for United Microelectronics’ Q3 2025 earnings at $0.26 EPS.

A number of other research analysts have also commented on UMC. Morgan Stanley lowered shares of United Microelectronics from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 28th. The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price target for the company. in a research note on Thursday, October 17th. StockNews.com downgraded United Microelectronics from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. cut United Microelectronics from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, United Microelectronics has a consensus rating of “Hold” and an average target price of $7.40.

United Microelectronics Stock Down 1.6 %

United Microelectronics stock opened at $6.96 on Monday. United Microelectronics has a 52 week low of $6.78 and a 52 week high of $9.00. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 3.42 and a beta of 1.20. The company’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.26. The company has a current ratio of 1.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.13.

Institutional Trading of United Microelectronics

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of United Microelectronics by 35.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,949 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 9,071 shares in the last quarter. SG Americas Securities LLC purchased a new position in United Microelectronics in the 1st quarter worth about $151,000. Susquehanna International Group Ltd. acquired a new stake in United Microelectronics during the 1st quarter worth about $471,000. Inspire Advisors LLC lifted its stake in United Microelectronics by 9.1% during the first quarter. Inspire Advisors LLC now owns 19,351 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 1,609 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of United Microelectronics by 2.2% in the first quarter. US Bancorp DE now owns 127,275 shares of the semiconductor company’s stock worth $1,030,000 after buying an additional 2,772 shares during the period. 5.05% of the stock is currently owned by institutional investors.

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.