United Microelectronics Corporation
In the published model solve dated 2026-Q2, anchored at $19.49, United Microelectronics Corporation (UMC) is priced for today's economics sustained for ~6.2 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• There is no second business here to absorb a bad year: ⟦"The Company only has wafer fabrication operating segment as the single reporting segment"⟧, and wafer work is 96% of revenue. • Profitability went backwards in the last filed year even as sales grew, with the annual report recording that ⟦"Our operating margin decreased from 22.2% in 2024 to 18.5% in 2025"⟧, against a price that embeds operating profit compounding at the fastest rate the company could self-fund for roughly six years. • T
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306 institutional managers reported holding UMC in 13F filings for the quarter ended 2026-03-31. Together they hold about 7% of the company; the top 10 hold 4%. 66 opened new positions that quarter. Held by BlackRock, AQR Capital, Vanguard Group, among others. On the short side, 25.3M shares were sold short as of the 2026-06-15 count, about 1% of shares outstanding (1.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UMC's share count grew 1.4% over the past five years. It pays a dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.