Wedbush Issues Optimistic Outlook for UMC Earnings

United Microelectronics Co. (NYSE:UMC - Free Report) - Analysts at Wedbush upped their Q4 2024 earnings per share (EPS) estimates for United Microelectronics in a research note issued to investors on Wednesday, October 30th. Wedbush analyst M. Bryson now expects that the semiconductor company will post earnings of $0.17 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for United Microelectronics' current full-year earnings is $0.66 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.

A number of other research analysts have also weighed in on UMC. The Goldman Sachs Group lowered United Microelectronics from a "buy" rating to a "neutral" rating and set a $7.40 target price on the stock. in a report on Thursday, October 17th. Morgan Stanley cut United Microelectronics from an "overweight" rating to an "equal weight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. lowered shares of United Microelectronics from an "overweight" rating to a "neutral" rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, United Microelectronics presently has an average rating of "Hold" and an average price target of $7.40.

United Microelectronics Stock Up 3.4 %

Shares of NYSE:UMC traded up $0.23 during midday trading on Friday, hitting $7.07. 22,440,185 shares of the company's stock were exchanged, compared to its average volume of 10,180,431. United Microelectronics has a 12 month low of $6.78 and a 12 month high of $9.00. The company has a market cap of $17.72 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 3.72 and a beta of 1.18. 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 stock has a 50 day moving average price of $8.24 and a 200-day moving average price of $8.26.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.03. United Microelectronics had a net margin of 22.89% and a return on equity of 14.35%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of United Microelectronics by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 15,868,813 shares of the semiconductor company's stock worth $134,250,000 after purchasing an additional 434,018 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of United Microelectronics by 1,105.0% in the first quarter. Acadian Asset Management LLC now owns 205,159 shares of the semiconductor company's stock valued at $1,659,000 after buying an additional 188,133 shares during the period. Blue Trust Inc. lifted its position in shares of United Microelectronics by 136.1% during the 3rd quarter. Blue Trust Inc. now owns 181,782 shares of the semiconductor company's stock valued at $1,592,000 after buying an additional 104,797 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in United Microelectronics by 35.1% in 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 during the last quarter. Finally, Diversified Trust Co bought a new stake in United Microelectronics in the 2nd quarter valued at about $113,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

United Microelectronics Company Profile

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.