United Micro Electronics ADR (NYSE: UMC) Trading under Its 20 Day MA ($8.69), Why Showing An Interesting Price Pattern?

United Micro Electronics ADR (NYSE:UMC) does about 8.33M shares in volume on a normal day but saw 8497185 shares change hands in Monday trading. The company now has a market cap of 21.70B USD. Its current market price is $8.66, marking an increase of 3.34% compared to the previous close of $8.38. The 52 week high reached by this stock is $9.00 whilst the lowest price level in 52 weeks is $6.71.

United Micro Electronics ADR (UMC) has a 20-day trading average at $8.69 and the current price is -3.78% off the 52-week high compared with 29.06% distance from its 52-week low. The 50-day simple moving average of the closing price is $8.40 and its 200-day simple moving average is $7.92. If we look at the stock’s price movements over the week, volatility stands at 1.55%, which increases to 1.72% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.78 to suggest the stock is neutral.

The consensus objective for the share price is $5.10, suggesting that the stock has a potential downside of -69.8% over the period.

United Micro Electronics ADR (UMC) stock is down -1.14% over the week and 2.97% over the past month. Its price is 2.36% year-to-date and 12.76% over the past year.

The stock last released its quarterly earnings report for quarter ended 3/31/2024, with the company’s earnings per share (EPS) of 0.2 above consensus estimates by 0.04. The company’s next earnings report forecasts estimating quarterly EPS at 0.14 and 0.61 for whole year. Expected sales for next quarter are $1.98B, which analysts say will come at $7.45B for the current fiscal year and next year at $8.44B. In addition, estimates put the company’s current quarterly revenue at an average of $1.76B.

To reach the target analysts have set, the stock logically needs to shrink -69.8 percent from here.

The company has a return on investment of 13.20% and return on equity of 14.99%. The price to earnings ratio (P/E ratio) amounts to 12.35 while the forward price to earnings ratio is 11.82. The beta has a value of 1.12. Price to book ratio is 1.84 and price to sales ratio is 3.06.