UMC
United Microelectronics Corporation

United Microelectronics CorporationUMC

Technology · Semiconductors
19.45USD
+1.41%
Oct 28, 2026
UMC overview ready
Geographically Diversified Specialty and Mature-Node Foundry Capacity with U.S. Expansion
UMC is a specialty and mature-node wafer-foundry enabler.
Strong narrative exposure
Exposed to the Semiconductor Supply Chain Localization narrative through Geographically Diversified Specialty and Mature-Node Foundry Capacity — enabling supplier.
No clear price read
Longer-term context reads extended trend, with a near-term setup of pullback recovery.
Fair valuation
The price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Cyclical demand fluctuations in semiconductor markets.
Market Oct 27Price action Aug 9Research Jul 29

Conviction Level

CompanyFit6.5PriceAction5.4Valuation6.4CompanyPosition7.3BusinessQuality—

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
Semiconductor Foundries is tracked (too few stocks) — no leadership reading
Price
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Price Action

No clear price read
Longer-term context reads extended trend, with a near-term setup of pullback recovery.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$47.6B
Avg Volume (60D)
11.4M
60 sessions
Revenue Growth YoY
+9.1%
Trailing twelve months
Gross Margin
+28.6%
Trailing twelve months
Operating Margin
+18.9%
Trailing twelve months
P/E
18.0x
EV / Sales
5.6x
Market metrics as of Oct 27, 2026

Fundamentals & Valuation

United Microelectronics Corporation has a Fair valuation stance because the price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.

Company Research

Thesis
UMC is a specialty and mature-node wafer-foundry enabler. Its operating fabs in Taiwan, Singapore, and China, along with planned U.S.-based 12nm production through its Intel Foundry collaboration, provide customers with additional qualified manufacturing-location options.
Opportunity
Moderate opportunity
Fabless chip designers and systems companies are seeking qualified specialty and mature-node manufacturing capacity across multiple geographies to reduce concentration risk while serving automotive, industrial, connectivity, power-management, and other long-life chip markets.
Key risk
Cyclical demand fluctuations in semiconductor markets.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

United Microelectronics Corporation operates as a semiconductor wafer foundry, manufacturing integrated circuits and providing related services including circuit design, mask tooling, wafer fabrication, assembly, and testing across multiple global locations.

How it earns

The company generates revenue primarily through transactional sales of semiconductor manufacturing and related services.

Products & services
Wafer fabrication
Circuit design
Mask tooling
Assembly and testing services
Venture capital and marketing support
Consulting and planning
Energy technical and solar engineering integrated design
Research and development services
Insurance services
Customers & end markets
Communication device manufacturers
Consumer electronics companies
Computer hardware producers
Other semiconductor end markets
Market position

UMC is a leading semiconductor foundry with a strong presence in Asia and a diversified global footprint, positioned as a major player but behind the largest foundries in scale.

Demand drivers
High cyclicality

Semiconductor manufacturing is highly cyclical due to fluctuating demand in end markets and capital-intensive capacity investments.