United Microelectronics Corporation
- Open
- 19.57
- Day high
- 19.64
- Day low
- 19.45
- Prev close
- 19.97
- Volume
- 868K
- Mkt cap
- $49.2B
- P/E (TTM)
- 18.5
- EPS (TTM)
- $1.06
- P/B
- 3.5
- P/S
- 6.2
- Yield
- 2.11%
- Per share
- $0.41
- ▼Insiders net selling -$296.0M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
United Microelectronics Corporation (UMC) is a Technology company listed on NYSE. The stock is up 200% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering UMC.
United Microelectronics Corporation (UMC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
UMC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $0.16 | $0.54 | +237.5% | $2.1B | -1.3% |
| Apr 29, 2026 | $0.12 | $0.20 | +66.7% | $1.9B | +0.2% |
| Jan 28, 2026 | $0.12 | $0.13 | +8.3% | $61.8B | +3099.1% |
| Oct 29, 2025 | $0.12 | $0.20 | +66.7% | $59.1B | +2967.7% |
| Jul 30, 2025 | — | $0.12 | — | $2.0B | — |
| Apr 23, 2025 | $0.10 | $0.09 | -10.0% | $1.8B | -2.6% |
| Oct 30, 2024 | $0.18 | $0.18 | +0.0% | $1.9B | +3147.2% |
| Jul 31, 2024 | $0.14 | $0.17 | +21.4% | $1.7B | +3130.6% |
| Mar 19, 2024 | $0.15 | $0.17 | +13.3% | $1.8B | — |
| Oct 25, 2023 | $0.17 | $0.20 | +17.6% | $1.8B | +0.4% |
| Jul 26, 2023 | $0.16 | $0.20 | +25.0% | $1.8B | +1.6% |
| Apr 27, 2023 | — | $0.28 | — | $2.2B | — |
UMC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 13, 2026 | Liu Chitungofficer: CFO & SVP | Sell | 1,900,000 | $154.89 |
| Jun 30, 2026 | HU CHE-JENofficer: Vice President | Sell | 10,000 | $171.30 |
Source: UMC SEC Form 4 filings, latest Jul 13, 2026. For informational purposes only — not investment advice.
See the full UMC insider & 13F page →United Microelectronics Corporation company profile
Overview
United Microelectronics Corporation (NYSE:UMC) is a Taiwan-based semiconductor foundry company founded in 1980 and headquartered in Hsinchu City. As one of the world's leading contract chip manufacturers, UMC provides semiconductor wafer fabrication services to fabless design companies and integrated device manufacturers globally. The company went public on the New York Stock Exchange in 2000 and operates manufacturing facilities across Taiwan, Singapore, China, and serves customers worldwide including Asia, North America, and Europe.
Business
UMC operates in the semiconductor foundry industry, which is a specialized segment of the broader semiconductor manufacturing ecosystem. A foundry company does not design its own chips but instead manufactures semiconductors for other companies that design but do not own manufacturing facilities. The company's core offering is contract semiconductor manufacturing services, which includes circuit design support, mask tooling, wafer fabrication, assembly, and testing services. UMC specializes in producing chips on silicon wafers using various process technologies, with particular strength in mature and specialty nodes ranging from older processes down to advanced 22-nanometer and 28-nanometer technologies. UMC's business spans multiple technology platforms and applications. The company generates revenue from several key segments: Communication applications account for approximately 39-47% of revenue, serving the mobile phone and telecommunications infrastructure markets. Consumer electronics represent around 26-29% of revenue, covering chips for TVs, gaming devices, and home appliances. The Automotive and Industrial segment contributes roughly 18-20% of revenue and has been a key growth driver, with automotive revenue growing 82% year-over-year in 2022. The remaining revenue comes from computing applications and other specialty markets. Geographically, UMC serves customers across different regions with Asian customers representing 51-65% of revenue, North American customers accounting for 22-25%, and European customers contributing approximately 11%. The company serves both fabless semiconductor design companies (around 78% of revenue) and integrated device manufacturers or IDMs (around 22% of revenue) that have their own design capabilities but outsource some manufacturing.
Revenue model
UMC operates on a contract manufacturing business model where it generates revenue by charging customers for wafer fabrication services. The company's primary revenue streams come from manufacturing semiconductor wafers according to customer specifications and designs. Customers pay UMC based on the number of wafers processed, with pricing varying by technology node complexity, wafer size, and volume commitments. The company's pricing structure includes both average selling price (ASP) per wafer and volume-based arrangements. UMC has increasingly moved toward Long-Term Agreements (LTAs) with key customers, which provide more predictable revenue streams and capacity utilization in exchange for committed volumes and pricing. These agreements help stabilize cash flows during market downturns while ensuring customers have secured capacity during periods of high demand. Several factors significantly impact UMC's margins and profitability. Capacity utilization rates are crucial, as semiconductor fabs have high fixed costs and benefit from economies of scale. The company's utilization has ranged from 58% during weak periods to over 70% during stronger demand cycles. Technology mix also affects margins, with more advanced nodes like 22nm and 28nm commanding higher ASPs and representing 34-37% of revenue. Currency fluctuations impact margins since UMC reports in Taiwan dollars but has significant USD-denominated costs and some revenue. Depreciation expenses represent a major cost component due to the capital-intensive nature of semiconductor manufacturing, with UMC expecting depreciation to peak around 2026-2027 as recent capacity investments are fully depreciated. Geopolitical factors increasingly affect demand patterns, with some customers diversifying supply chains due to US-China tensions, potentially benefiting UMC's non-China facilities. Market cyclicality driven by inventory corrections in end markets like smartphones, PCs, and automotive also creates significant margin volatility, as seen in the recent downturn where customers reduced orders to work through excess inventory.
Risks & safety
UMC demonstrates strong financial stability with solid liquidity and manageable debt levels, though valuation metrics suggest limited upside at current prices. • Liquidity and Solvency: Strong cash position of $3.2 billion with current ratio of 2.64, indicating excellent short-term liquidity. Debt-to-equity ratio of 0.15 shows conservative capital structure with minimal solvency risk. • Cash Generation: Positive operating cash flow of $720 million in Q1 2025, though free cash flow of $282 million shows significant capital investment requirements. Full year 2024 generated $2.8 billion in operating cash flow. • Valuation Metrics: Trading at P/E ratio of 19.1x and EV/EBITDA of 30.6x, suggesting relatively expensive valuation for a mature cyclical business. Price-to-book ratio of 1.52x appears reasonable given asset-heavy nature of business. • Profitability Trends: Gross margins compressed to around 30% from prior peaks above 32%, reflecting pricing pressure and higher depreciation costs. ROE of 2.0% in recent quarter indicates weak profitability relative to shareholder equity. • Other Considerations: High capital intensity with annual CapEx of $1.8-3.3 billion creates ongoing cash requirements. Cyclical nature of semiconductor industry creates earnings volatility risk.
Recent development
Over the past few years, UMC has pursued several strategic initiatives to strengthen its competitive position and diversify its technology portfolio. The company has made significant investments in geographic expansion, with the Singapore Phase 3 fab progressing toward volume production in early 2026, providing customers with additional supply chain options amid geopolitical tensions. A key strategic pivot has been UMC's focus on specialty technology platforms rather than competing directly in leading-edge nodes. The company has developed a 22-nanometer specialty platform with particular strength in display driver solutions and high-voltage applications, achieving record-high specialty portfolio revenue of 53.1% of total sales. This strategy allows UMC to serve automotive, industrial, and other specialty markets that value reliability and cost-effectiveness over absolute performance. UMC has also entered into a significant collaboration with Intel on 12-nanometer FinFET process development, with mass production targeted for 2027. This partnership provides access to more advanced node technology while sharing development costs, potentially expanding UMC's addressable market into higher-value applications. In advanced packaging, UMC has been developing 3D IC solutions and wafer-to-wafer hybrid bonding technologies to capture opportunities in AI-related applications. The company maintains silicon interposer capacity and is exploring various packaging solutions for data transmission and power management chips used in edge AI applications. The company has also adapted its commercial strategy by implementing Long-Term Agreements (LTAs) with key customers to provide more predictable revenue streams and capacity utilization. This approach helps stabilize financial performance during market downturns while ensuring customers have secured capacity during high-demand periods. Additionally, UMC has maintained disciplined capital allocation, adjusting CapEx from $3.3 billion in 2024 to $1.8 billion in 2025 based on market conditions.
UMC company profile · for informational purposes only — not investment advice.
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