United Microelectronics Co. Forecasted to Earn Q3 2024 Earnings of $0.13 Per Share (NYSE:UMC)

United Microelectronics Co. (NYSE:UMC) – Research analysts at Wedbush reduced their Q3 2024 earnings per share estimates for shares of United Microelectronics in a report released on Wednesday, April 24th. Wedbush analyst M. Bryson now anticipates that the semiconductor company will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.15. The consensus estimate for United Microelectronics’ current full-year earnings is $0.63 per share. Wedbush also issued estimates for United Microelectronics’ Q4 2024 earnings at $0.13 EPS, FY2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $0.80 EPS.

United Microelectronics (NYSE:UMC) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). United Microelectronics had a return on equity of 17.43% and a net margin of 27.41%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion.

UMC has been the topic of a number of other reports. The Goldman Sachs Group cut United Microelectronics from a “buy” rating to a “neutral” rating and set a $8.90 target price on the stock. in a report on Tuesday, January 16th. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a report on Wednesday.

United Microelectronics Price Performance

Shares of United Microelectronics stock opened at $7.70 on Thursday. United Microelectronics has a one year low of $6.71 and a one year high of $8.97. The stock’s fifty day moving average is $7.93 and its 200 day moving average is $7.84. The stock has a market cap of $19.26 billion, a P/E ratio of 9.75, a P/E/G ratio of 2.04 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.83 and a current ratio of 2.19.

Institutional Investors Weigh In On United Microelectronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Schechter Investment Advisors LLC increased its holdings in shares of United Microelectronics by 5.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 26,501 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 1,452 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of United Microelectronics by 19.8% in the third quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,514 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of United Microelectronics by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 73,303 shares of the semiconductor company’s stock worth $518,000 after purchasing an additional 1,671 shares during the last quarter. Inspire Advisors LLC increased its holdings in shares of United Microelectronics by 19.6% in the third quarter. Inspire Advisors LLC now owns 13,393 shares of the semiconductor company’s stock worth $95,000 after purchasing an additional 2,198 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of United Microelectronics by 2.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 100,839 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 2,246 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.