United Microelectronics Corporation [NYSE: UMC] traded at a high on 03/13/23, posting a 0.84 gain after which it closed the day’ session at $8.40. The company report on March 7, 2023 that Infineon and UMC Extend Automotive Partnership with Long-Term Agreement for 40nm eNVM Microcontroller Production.
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Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) (“UMC”) today announced a long-term strategic cooperation agreement to multiply capacity for the production of Infineon automotive microcontroller in order to serve the rapidly expanding automotive market. The high-performance microcontroller product leverages Infineon’s proprietary eNVM (embedded non-volatile memories) technology and will be manufactured at UMC’s Singapore fab on its 40nm process.
Microcontroller are key components controlling a wide range of functions in vehicles, and demand is increasing as cars evolve to become ever greener, safer, and smarter. Already this year, Infineon is ramping the selling rate of automotive microcontroller to close to one million per day.
The results of the trading session contributed to over 9664963 shares changing hands. Over the past one week, the price volatility of United Microelectronics Corporation stands at 2.45% while the volatility over the past one month is 2.10%.
The market cap for UMC stock reached $21.54 billion, with 2.47 billion shares outstanding and 2.25 billion shares in the current float. Compared to the average trading volume of 7.75M shares, UMC reached a trading volume of 9664963 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about United Microelectronics Corporation [UMC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UMC shares is $7.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UMC stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for United Microelectronics Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 28, 2023. While these analysts kept the previous recommendation, Loop Capital raised their target price to Hold. The new note on the price target was released on January 24, 2023, representing the official price target for United Microelectronics Corporation stock.
The Average True Range (ATR) for United Microelectronics Corporation is set at 0.21, with the Price to Sales ratio for UMC stock in the period of the last 12 months amounting to 2.38. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 2.26. Price to Free Cash Flow for UMC in the course of the last twelve months was 10.10 with Quick ratio for the last quarter at 2.00.
How has UMC stock performed recently?
United Microelectronics Corporation [UMC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.08. With this latest performance, UMC shares gained by 0.48% in over the last four-week period, additionally plugging by 29.03% over the last 6 months – not to mention a drop of -1.95% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UMC stock in for the last two-week period is set at 56.91, with the RSI for the last a single of trading hit 56.88, and the three-weeks RSI is set at 57.17 for United Microelectronics Corporation [UMC]. The present Moving Average for the last 50 days of trading for this stock 7.89, while it was recorded at 8.36 for the last single week of trading, and 7.12 for the last 200 days.
United Microelectronics Corporation [UMC]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and United Microelectronics Corporation [UMC] shares currently have an operating margin of +35.50 and a Gross Margin at +44.00. United Microelectronics Corporation’s Net Margin is presently recorded at +31.29.
Return on Total Capital for UMC is now 26.25, given the latest momentum, and Return on Invested Capital for the company is 24.72. Return on Equity for this stock inclined to 28.31, with Return on Assets sitting at 17.48. When it comes to the capital structure of this company, United Microelectronics Corporation [UMC] has a Total Debt to Total Equity ratio set at 15.88. Additionally, UMC Total Debt to Total Capital is recorded at 13.70, with Total Debt to Total Assets ending up at 9.98. Long-Term Debt to Equity for the company is recorded at 13.45, with the Long-Term Debt to Total Capital now at 11.61.
Receivables Turnover for the company is 7.38 with a Total Asset Turnover recorded at a value of 0.56.United Microelectronics Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.30.
Earnings analysis for United Microelectronics Corporation [UMC]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for UMC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United Microelectronics Corporation go to 34.10%.
Insider trade positions for United Microelectronics Corporation [UMC]
Positions in United Microelectronics Corporation stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 114 institutional holders increased their position in United Microelectronics Corporation [NYSE:UMC] by around 24,755,594 shares. Additionally, 120 investors decreased positions by around 24,675,026 shares, while 33 investors held positions by with 87,712,298 shares. The mentioned changes placed institutional holdings at 137,142,918 shares, according to the latest SEC report filing. UMC stock had 39 new institutional investments in for a total of 7,289,739 shares, while 42 institutional investors sold positions of 1,928,429 shares during the same period.