DigiTimes: UMC Expected To 'Enjoy Significant Revenue And Profit Growth' In Q2

Shares of United Microelectronics Corp (ADR) (NYSE: UMC) may have received a boost on Tuesday following a favorable report by DigiTimes.

DigiTimes reported that United Microelectronics is expected to "enjoy significant revenue and profit growth" in the second quarter. The publication cited the company's ramp-up of orders from fabless clients and new 28nm chip orders.

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DigiTimes, citing "industry sources," added that "UMC has seen its 8-inch fabs run at full utilization, while utilization rates at its 12-inch fabs have climbed, driven by a ramp-up of orders for mobile devices, said the sources."

Shares of United Microelectronics rose 2.4 percent to close at NT$12.90 on the Taiwan Stock Exchange on Tuesday. Shares of the company's NYSE-listed stock were trading higher by around 1 percent Tuesday afternoon.