United Micro Electronics ADR (UMC) Shares Soar Above 1-Year High

United Micro Electronics ADR (NYSE: UMC)’s stock price has plunge by 8.11relation to previous closing price of 5.30. Nevertheless, the company has seen a 6.43% surge in its stock price over the last five trading sessions. Forbes reported 2024-02-04 that Magnificent Seven? Tired. Dividend Six? Wired. Plain vanilla investors fawn over chipmakers and AI stocks. They hope they can buy them high, and sell them higher.

Is It Worth Investing in United Micro Electronics ADR (NYSE: UMC) Right Now?

The price-to-earnings ratio for United Micro Electronics ADR (NYSE: UMC) is 9.52x, which is above its average ratio. Moreover, the 36-month beta value for UMC is 1.17.

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The public float for UMC is 2.51B and currently, short sellers hold a 2.29% of that float. On February 12, 2024, UMC’s average trading volume was 0.81 shares.

UMC’s Market Performance

The stock of United Micro Electronics ADR (UMC) has seen a 6.43% increase in the past week, with a 0.87% rise in the past month, and a 8.57% gain in the past quarter. The volatility ratio for the week is 2.38%, and the volatility levels for the past 30 days are at 2.38% for UMC. The simple moving average for the last 20 days is 14.64% for UMC stock, with a simple moving average of Jan 31 AMC for the last 200 days.

UMC Trading at -20.24% from the 50-Day Moving Average

After a stumble in the market that brought UMC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.59% of loss for the given period.

Volatility was left at 2.38%, however, over the last 30 days, the volatility rate increased by 2.38%, as shares surge +1.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.71% upper at present.

During the last 5 trading sessions, UMC rose by +6.43%, which changed the moving average for the period of 200-days by +5.74% in comparison to the 20-day moving average, which settled at $7.89. In addition, United Micro Electronics ADR saw -4.14% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for UMC

Equity return is now at value 17.33, with 11.02 for asset returns.

Conclusion

To wrap up, the performance of United Micro Electronics ADR (UMC) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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