Get all your news in one place.

100’s of premium titles.
One app.

Get all your news in one place.

100’s of premium titles. One news app.

Benzinga

Business

Anusuya Lahiri

UMC Reports February Sales; Goldman Sachs Downgrades To Buy

UMC Goldman Sachs United Microelectronics NYSE United Microelectronics Corp

United Microelectronics Corp (NYSE:UMC) reported a February sales growth of 39.2% year-on-year to NT$20.8 billion (~740 million).
Revenue for the period January - February grew 35.5% Y/Y to NT$41.3 billion.
Related Content: United Microelectronics Tops Q4 Consensus; Sees Market Demand To Exceed Supply
Analyst Rating: Goldman Sachs analyst Bruce Lu downgraded UMC to Buy from Conviction Buy with a price target of NT$71.2, down from NT$114.5 (31.4% upside), as part of a broader research note on Taiwan Semiconductors.
The analyst states that against the backdrop of a higher rate environment, Goldman Sachs macro analysts now expect equity valuations to be pushed lower.
Price Action: UMC shares closed lower by 0.83% at $9.52 on Thursday.

Sign up to read this article

Read news from 100’s of titles, curated specifically for you.

Already a member? Sign in here

Top stories on inkl right now

NASCAR suspends nine people, issues $300,000 in fines for race manipulation

NASCAR suspends nine people, issues $300,000 in fines for race manipulation

NASCAR has penalized the No. 23 23XI Racing Toyota of Bubba Wallace, the No. 3 Richard Childress Racing Chevrolet of Austin Dillon, and the No. 1 Trackhouse Racing Chevrolet of Ross Chastain, due to what the Series has deemed potential race manipulation after the review of Sunday's radio communications of those…

At least two dead and five missing in tragic boating accidents off California coast

At least two dead and five missing in tragic boating accidents off California coast

Extreme wind conditions are expected to continue along much of the California coast this week

The Independent UK

Fake bomb threats linked to Russia reported at US polling sites, says FBI

Fake bomb threats linked to Russia reported at US polling sites, says FBI

At least two polling sites in Georgia were briefly evacuated

Evening Standard

Nevada Is Struggling to Fix Rejected Ballots Because Young Voters 'Don't Have Signatures': Official

Nevada Is Struggling to Fix Rejected Ballots Because Young Voters 'Don't Have Signatures': Official

More than 10,000 mail-in ballots have been rejected in Nevada, a number the secretary of state said he expects to continue to rise.

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Russian Disinformation Network Fuels False Arizona Election Fraud Video

Russian Disinformation Network Fuels False Arizona Election Fraud Video

Officials have condemned the spread of misinformation aimed at swaying voters in crucial battleground states.

A polarized America goes to the polls: ‘I’m in a house divided’

A polarized America goes to the polls: ‘I’m in a house divided’

In the seven swing states that could decide whether Harris or Trump wins the election, voters feel fought over

The Guardian - US

Related Stories

Top stories on inkl right now

NASCAR suspends nine people, issues $300,000 in fines for race manipulation

NASCAR suspends nine people, issues $300,000 in fines for race manipulation

NASCAR has penalized the No. 23 23XI Racing Toyota of Bubba Wallace, the No. 3 Richard Childress Racing Chevrolet of Austin Dillon, and the No. 1 Trackhouse Racing Chevrolet of Ross Chastain, due to what the Series has deemed potential race manipulation after the review of Sunday's radio communications of those…

At least two dead and five missing in tragic boating accidents off California coast

At least two dead and five missing in tragic boating accidents off California coast

Extreme wind conditions are expected to continue along much of the California coast this week

The Independent UK

Fake bomb threats linked to Russia reported at US polling sites, says FBI

Fake bomb threats linked to Russia reported at US polling sites, says FBI

At least two polling sites in Georgia were briefly evacuated

Evening Standard

Nevada Is Struggling to Fix Rejected Ballots Because Young Voters 'Don't Have Signatures': Official

Nevada Is Struggling to Fix Rejected Ballots Because Young Voters 'Don't Have Signatures': Official

More than 10,000 mail-in ballots have been rejected in Nevada, a number the secretary of state said he expects to continue to rise.

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Russian Disinformation Network Fuels False Arizona Election Fraud Video

Russian Disinformation Network Fuels False Arizona Election Fraud Video

Officials have condemned the spread of misinformation aimed at swaying voters in crucial battleground states.

A polarized America goes to the polls: ‘I’m in a house divided’

A polarized America goes to the polls: ‘I’m in a house divided’

In the seven swing states that could decide whether Harris or Trump wins the election, voters feel fought over

The Guardian - US

Our Picks

Influencer banned from New York City Marathon after camera crew followed him on e-bikes

Matt Choi receives lifetime ban from NYC Marathon after runners complained his camera crew had obstructed the course

The Independent UK

Barry Keoghan Dismisses Prosthetic Rumors About Viral ‘Saltburn’ Dance Scene: “It Was All Me”

"It was all me." Actor Barry Keoghan categorically denied the usage of prosthetic equipment to “enhance” his intimate parts in a naked scene on the movie Saltburn. The post Barry Keoghan Dismisses Prosthetic Rumors About Viral ‘Saltburn’ Dance Scene: “It Was All Me” first appeared on Bored Panda.

Selena Gomez had the perfect response to cruel body shamers

She's happy with her body, thank you very much

“Disgusting”: Brad Pitt Fan Accused Of ‘Harassing’ Actor After Kissing Him And Grabbing His Neck

"How disgusting that someone you don't know kisses you without your permission." The post “Disgusting”: Brad Pitt Fan Accused Of ‘Harassing’ Actor After Kissing Him And Grabbing His Neck first appeared on Bored Panda.

Squid Game season 2: when is it coming out and who's in the cast?

Details of a long-awaited sequel to the smash-hit Netflix show have emerged

Evening Standard

Family Feud reveals the most common fact Americans know about Prince Harry – and it’s not flattering

The top answer for things ‘people know about Prince Harry’ was his marriage to Meghan Markle

The Independent UK

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.

Download on the AppStore

Get it on Google Play