Skip to main content

Market Overview

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

Share:

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.

Related Link: Morgan Stanleys Taiwan Team: Selloff In Under Armour Suppliers Is An Overreaction

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.

 

Related Articles (UMC)

View Comments and Join the Discussion!

Posted-In: 28nm Chips Digitimes Fabless Taiwan Stock ExchangeNews Movers Tech Trading Ideas

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com