United Microelectronics Corporation (NYSE:UMC) saw a downside of -2.87% to close Tuesday at $7.11 after subtracting -$0.21 on the day. The 5-day average trading volume is 5,554,920 shares of the company’s common stock. It has gained $7.36 in the past week and touched a new high 1 time within the past 5 days. An average of 6,421,575 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,467,876.
UMC’s 1-month performance is -9.43% or -$0.64 on its low of $7.03 reached on 08/08/23. The company’s shares have touched a 52-week low of $5.36 and high of $8.97, with the stock’s rally to the 52-week high happening on 06/15/23. YTD, UMC has achieved 8.88% or $0.58 and has reached a new high 20 times. However, the current price is down -20.74% from the 52-week high price.
Valuation Metrics
UMC stock has a beta of 1.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.25 while the price-to-book (PB) in the most recent quarter is 1.70.
United Microelectronics Corporation’s quick ratio for the period ended June 29 was 1.40, with the current ratio over the same period at 1.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.13, while the total debt to equity was 0.16.. In terms of profitability, the gross margin trailing 12 months is 41.10%. The trailing 12-month EBITDA margin is 51.26% while for the period ending June 29, United Microelectronics Corporation’s operating margin was 33.10%. The firm’s gross profit as reported stood at $4.09 billion against revenue of $9.07 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, United Microelectronics Corporation’s cash and short-term investments amounted to $1.31 million against total debt of $53.22 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 72.04% to $2.91 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected UMC to announce $0.16 per share in earnings in its latest quarter, but it posted $0.2, representing a 25.00% surprise. EBITDA for the quarter stood at more than $771.56 million. UMC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 6.39 billion, with total debt at $53.22 billion.
Let’s look briefly at United Microelectronics Corporation (UMC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 34.12% to suggest the stock is trending Neutral, with historical volatility in this time period at 28.63%.
The stock’s 5-day moving average is $7.21, reflecting a -4.31% or -$0.32 change from its current price. UMC is currently trading -9.43% above its 20-day SMA, -14.54% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -11.35% and SMA200 by+21.12%.
Stochastic %K and %D was 21.55% and 17.25% and the average true range (ATR) pointed at 0.17. The RSI (14) points at 35.49%, while the 14-day stochastic is at 14.81% with the period’s ATR at 0.17. The stock’s 9-day MACD Oscillator is pointing at -0.09 and -0.06 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for United Microelectronics Corporation (NYSE: UMC), HSBC Securities downgraded it to a Reduce rating. They previously had a Hold rating on the stock. Analysts offering their rating for UMC stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate UMC as a “sell,”, while 1 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is UMC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $5.30 and a high of $5.30, with their median price target at $5.30. Looking at these predictions, the average price target given by analysts is for United Microelectronics Corporation (UMC) stock is $5.30.
