On June 9, United Microelectronics rose 3.28% in regular trading, trading at $20.775/share, with trading volume of $28.45 million, extending its recent rebound trajectory.
On the news front, Mastercard Securities upgraded United Microelectronics from Hold to Buy with a target price of NT$135, boosting market confidence. According to FactSet-polled analysts, the stock carries an average Hold rating with a mean price target of NT$90.67, making this upgrade a notable departure from consensus. Meanwhile, the broader semiconductor sector continued to recover, with Micron Technology up 3.76%, Intel up 1.92%, and NVIDIA up 0.71%, providing favorable sector tailwinds.
The stock had previously corrected over 15% due to elevated valuations at approximately 35.5x TTM P/E, well above its five-year median of 11.8x. However, robust fundamentals have attracted buying interest on the dip, including Q1 net profit surging 108% year-over-year to NT$16.17 billion, May revenue growing 17.8% YoY to NT$22.94 billion, and planned selective price increases of approximately 10% in the second half to sustain earnings momentum.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)