United Microelectronics Corporation (NEW) (UMC) Stock

United Microelectronics Corporation (NEW) (UMC) is a Technology stock trading at $22.64 (as of 2026-09-11). Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

United Microelectronics Corporation operates as a semiconductor wafer foundry, providing wafer fabrication, assembly and testing, and related services such as circuit design and mask tooling across Taiwan, Singapore, China, Hong Kong, Japan, the United States, Europe, and other international locations. It serves fabless design companies and integrated device manufacturers.

Understand United Microelectronics Corporation (NEW): how it makes money

United Microelectronics makes semiconductor wafers and provides circuit design, mask tooling, fabrication, assembly, and testing services for fabless companies and integrated device makers, earning revenue by manufacturing their chips as a foundry.

UMC earns by filling capital-intensive wafer-fabrication capacity, so utilization and pricing determine how fixed costs translate into profit.

Business quality (Solid): UMC has a solid foundry profile with operating profitability, but its capital-intensive model leaves earnings exposed to utilization, pricing, and chip-demand cycles.

Bull case

  • Advanced nodes are gaining traction: 22nm adoption is accelerating and reaching record revenue levels, which could improve UMC's technology mix and support growth.
  • Share gains could lift growth: Management expects UMC to gain share against its addressable market in 2026, which could turn industry demand into stronger company growth.
  • Packaging expands the opportunity: Management highlighted advanced packaging's customer base and new tape-outs, supporting a broader growth path beyond wafer fabrication.

Bear case

  • Utilization limits near-term upside: Flat wafer shipments and mid-70% utilization constrain near-term volume upside, limiting how quickly fixed fabrication costs can be absorbed.
  • Costs could squeeze profitability: Higher depreciation and inflationary costs pressure 2026 margins, creating a risk that earnings lag revenue recovery.
  • Consumer demand remains cyclical: Memory pricing could pressure foundry demand, particularly in consumer electronics, making any recovery more dependent on end-market conditions.
Valuation — source: SEC EDGAR (first-party)
Price$22.64
DCF Value (model)$54.25
DCF Upside vs Price139.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$232.30B
Net Margin21.0%
Return on Equity13.3%
Current Ratio2.45
Revenue Growth (YoY)4.4%
EPS Growth (YoY)-18.5%
Valuation vs Sector & Industry
Sector P/E (Technology)29.5
Industry P/E (Electronic Equipment)36.3
Company
SectorTechnology
IndustryElectronic Equipment
CEOJia Cong Hung
Employees20,000
CountryTW
IPO Date2000-09-19

United Microelectronics Corporation (NEW) earnings call transcripts

  • UMC Q4 FY25 earnings call transcript (reported 2026-01-28) · analysis

All UMC earnings calls

Related Companies (Electronic Equipment; 8 comparable electronics makers)

  • Intel Corporation (INTC)
  • Micron Technology, Inc. (MU)
  • Texas Instruments Incorporated (TXN)
  • Analog Devices, Inc. (ADI)
  • Sandisk Corporation (SNDK)
  • GlobalFoundries Inc. (GFS)
  • Amkor Technology, Inc. (AMKR)
  • ON Semiconductor Corporation (ON)
UMC earnings history · UMC institutional & insider holders · UMC KPIs & operating metrics · UMC financials · UMC filings, presentations & press releases · UMC investor presentations & press releases · UMC SEC filings · UMC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-11.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.