On June 11, United Microelectronics (UMC) rose 5.56% in regular trading, trading at $19.91/share, with trading volume of $13.92 million, staging a strong rebound after a sharp pullback in the prior session.
On the news front, the semiconductor sector experienced broad-based recovery, with Intel up 5.71%, Marvell Technology up 3.44%, and Micron Technology up 1.4%, significantly improving sector sentiment. Meanwhile, a securities firm recently upgraded UMC from Hold to Buy with a target price of NT$135, boosting market confidence.
UMC had previously corrected over 15% due to elevated valuations (TTM P/E approximately 35.5x versus a five-year median of 11.8x). However, the company's robust fundamentals continue to attract capital inflows. First-quarter net profit surged 108% year-over-year to NT$16.17 billion, May revenue grew 17.8% YoY to NT$22.94 billion, and management has confirmed selective price hikes of approximately 10% in the second half, with broader pricing negotiations planned for next year, providing sustained earnings growth 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.)