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United Microelectronics Corporation (UMC) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, United Microelectronics Corporation (UMC) closed at $7.32, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.11%.

Coming into today, shares of the company had lost 16.19% in the past month. In that same time, the Computer and Technology sector gained 3.24%, while the S&P 500 lost 0.62%.

United Microelectronics Corporation will be looking to display strength as it nears its next earnings release. On that day, United Microelectronics Corporation is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 83.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.32 billion, up 26.93% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.26 per share and revenue of $9.21 billion. These totals would mark changes of +51.81% and +20.77%, respectively, from last year.

Any recent changes to analyst estimates for United Microelectronics Corporation should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. United Microelectronics Corporation is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, United Microelectronics Corporation is holding a Forward P/E ratio of 5.83. This valuation marks a discount compared to its industry's average Forward P/E of 15.2.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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