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Is United Microelectronics Corp (UMC) a Stock to Watch After Losing 0.00% This Week?

Friday, September 30, 2022 01:08 PM | InvestorsObserver Analysts

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Is United Microelectronics Corp (UMC) a Stock to Watch After Losing 0.00% This Week?

The market has been down on United Microelectronics Corp (UMC) stock recently. UMC gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bearish
United Microelectronics Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on UMC!

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With UMC Stock Today?

United Microelectronics Corp (UMC) stock is trading at $5.63 as of 12:55 PM on Friday, Sep 30, a loss of -$0.02, or -0.35% from the previous closing price of $5.65. The stock has traded between $5.55 and $5.69 so far today. Volume today is low. So far 2,292,950 shares have traded compared to average volume of 7,275,729 shares.

More About United Microelectronics Corp

Founded in 1980, United Microelectronics is the world's third-largest dedicated chip foundry, with 7% market share in 2021, according to Gartner, after TSMC and GlobalFoundries. UMC's headquarters are in Hsinchu, Taiwan, and it operates 12 fabs in Taiwan, Mainland China, Japan and Singapore, with additional sales offices in Europe, the U.S. and South Korea. UMC features a diverse customer base including Texas Instruments, MediaTek, Qualcomm, Broadcom, Xilinx and Realtek, supplying a wide range of products applied in communications, display, memory, automotive and more. UMC employs about 20,000 people. Click Here to get the full Stock Report for United Microelectronics Corp stock.

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