United Microelectronics Corp files Form 6-K with SEC

TAIPEI, Taiwan - United Microelectronics Corporation (UMC), a semiconductor foundry with a market capitalization of $15.95 billion, has filed a Form 6-K report with the United States Securities and Exchange Commission (SEC) today. The document, submitted in compliance with the SEC's rules for foreign issuers, details the company's latest updates as required by the securities exchange act of 1934. According to InvestingPro data, UMC maintains a strong financial health score of "GREAT" and currently trades at $6.77 per share.

The filing, dated today, is a routine disclosure that publicly traded companies not based in the U.S. must submit periodically to inform the SEC and investors of significant events that shareholders should know about. UMC, listed under the SEC file number 001-15128, has indicated that it will continue to file annual reports under the cover of Form 20-F. With a P/E ratio of 10.97 and a notable dividend yield of 5.17%, UMC presents an attractive profile for value-focused investors. Discover more detailed financial insights with InvestingPro, which offers comprehensive analysis of over 1,400 US stocks.

UMC's Form 6-K is a testament to the company's commitment to transparency and adherence to international reporting standards. The report was signed by Chitung Liu, the Chief Financial Officer of United Microelectronics Corporation, ensuring the document's validity and the company's responsibility for its content.

Investors and stakeholders rely on such filings for accurate and current information regarding a company's financial health, operational changes, and other material developments. As one of the key players in the semiconductor industry, UMC's financial and operational disclosures are closely watched by market participants.

The corporation, with its principal executive offices located in Hsinchu Science Park, Taiwan, plays a significant role in the global semiconductor and related devices market. This SEC filing ensures that UMC maintains good standing with international regulatory requirements and provides the investment community with essential data.

For those looking to review the detailed contents of the report, the Form 6-K is available on the SEC's website. The document is based on a press release statement and is an essential source for anyone needing the latest official information on United Microelectronics Corporation.

In the highly competitive and fast-paced semiconductor industry, UMC's regular filings and disclosures are crucial for maintaining investor confidence and market integrity. This latest Form 6-K filing is part of the company's ongoing commitment to corporate transparency and regulatory compliance. The company's strong financial position is evidenced by its healthy current ratio of 2.52, indicating solid liquidity. With its next earnings report due in 14 days, investors can access detailed analysis and forecasts through InvestingPro's exclusive Pro Research Report.

In other recent news, United Microelectronics Corporation (UMC) reported fourth-quarter earnings that did not meet analyst expectations. The company posted adjusted earnings per ADS of $0.104, missing the consensus forecast of $0.14. Revenue for the quarter was $1.84 billion, falling short of the expected $1.87 billion but marking a 9.9% increase year-over-year. In addition to these earnings results, Citi analysts downgraded UMC's stock from Buy to Sell, adjusting the price target from $55.00 TWD to $40.00 TWD. This downgrade followed a significant decrease in UMC's net profit, which dropped 41% quarter-over-quarter and 36% year-over-year.

UMC's gross margin for the quarter was 30.4%, with an operating margin of 19.8%, both in line with projections despite a non-operating loss. The company anticipates wafer shipments to remain stable in the first quarter of 2025, although it expects a 4-6% decrease in average selling prices. UMC projects a decline in gross margin to approximately 25% in the upcoming quarter due to increased depreciation costs and other factors. Despite these challenges, the company is targeting single-digit year-over-year revenue growth for the rest of the year.

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