United Microelectronics Corporation (UMC) has been under a strong bear grip, hence the stock is down -6.31% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.68% in the past 1 week. The stock has risen by 2.12% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.98% in the past 4 weeks.
United Microelectronics Corporation (NYSE:UMC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.92 and $1.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.93, notching a gain of 0.52% for the day. The total traded volume was 668,697 . The stock had closed at $1.92 on the previous day.
The stock has recorded a 20-day Moving Average of 1.45% and the 50-Day Moving Average is 1.59%. United Microelectronics Corporation is up 13.19% in the last 3-month period. Year-to-Date the stock performance stands at 7.17%.
United Microelectronics Corporation is a global semiconductor foundry that provides technology and manufacturing for applications spanning various sectors of the integrated circuit (IC) industry. The Company operates through two segments: wafer fabrication and new business. The primary operating activity of the Companys wafer fabrication segment is the manufacture of chips to the design specifications of its customers by using its own processes and techniques. The new business segment primarily includes researching, developing, manufacturing, and providing solar energy and new generation light-emitting diode (LED). The Company provides turnkey solutions, testing services, package solution development and product yield management service. The Company maintains a customer base across various industries, including communication, consumer electronics, computer, memory and others. The Company also provides design support services.