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United Microelectronics Corporation (UMC) closed at $7.98 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the company had lost 5.45% over the past month, outpacing the Computer and Technology sector's loss of 8.36% and the S&P 500's loss of 8.32% in that time.
Investors will be hoping for strength from United Microelectronics Corporation as it approaches its next earnings release. In that report, analysts expect United Microelectronics Corporation to post earnings of $0.33 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.26 per share and revenue of $9.21 billion, which would represent changes of +51.81% and +20.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United Microelectronics Corporation. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. United Microelectronics Corporation is currently a Zacks Rank #2 (Buy).
In terms of valuation, United Microelectronics Corporation is currently trading at a Forward P/E ratio of 6.33. For comparison, its industry has an average Forward P/E of 14.2, which means United Microelectronics Corporation is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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