Q3 2024 EPS Estimates for United Microelectronics Co. Lowered by Wedbush (NYSE:UMC)

United Microelectronics Co. (NYSE:UMC) – Equities research analysts at Wedbush decreased their Q3 2024 earnings per share estimates for United Microelectronics in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst M. Bryson now expects that the semiconductor company will post earnings of $0.13 per share for the quarter, down from their prior estimate 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.

Several other analysts have also recently issued reports on UMC. 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 research report on Tuesday, January 16th. HSBC raised United Microelectronics from a “reduce” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, Citigroup raised United Microelectronics from a “neutral” rating to a “buy” rating in a research report on Wednesday.

United Microelectronics Stock Up 0.8 %

Shares of NYSE UMC opened at $7.76 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.83 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $19.41 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 2.04 and a beta of 1.21. The stock’s fifty day simple moving average is $7.93 and its two-hundred day simple moving average is $7.84. United Microelectronics has a 12-month low of $6.71 and a 12-month high of $8.97.

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

Institutional Trading of United Microelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in United Microelectronics in the 4th quarter worth $27,000. EverSource Wealth Advisors LLC raised its stake in United Microelectronics by 19.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 9,151 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,514 shares during the last quarter. Optas LLC purchased a new position in United Microelectronics in the 4th quarter worth $89,000. Coldstream Capital Management Inc. purchased a new position in United Microelectronics in the 3rd quarter worth $76,000. Finally, Cherrydale Wealth Management LLC purchased a new position in shares of United Microelectronics during the 4th quarter valued at about $93,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.