External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

UMC (UMC.US; 2303.TT): 1Q22 Results/2Q22 Preview- GM Beats Results and Forecast

UMC (UMC.US; 2303.TT): 3Q22 Order Is Full- The Demand from Asia Is Turning Weak, but US Is Stronger

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

United Microelectronics Corp / Equity Bottom-Up

<p>100% capacity utilization rate; reiterate BUY with TP of NTD74. UMC’s growth momentum may come from 5G, IoT and EV in FY22. In particular, higher shipments of PMIC, transceiver/switch and OLED driver IC and demand for more sensors and controllers in multi-lens handset may boost UMC’s sales. UMC revised up FY22 foundry growth to +20% YoY. FY22 EPS is estimated at NTD6.03. Due to UMC’s 100% capacity utilization rate and higher ASP/earnings, we reiterate BUY with TP of NTD74.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

100% capacity utilization rate; reiterate BUY with TP of NTD74. UMC’s growth momentum may come from 5G, IoT and EV in FY22. In particular, higher shipments of PMIC, transceiver/switch and OLED driver IC and demand for more sensors and controllers in multi-lens handset may boost UMC’s sales. UMC revised up FY22 foundry growth to +20% YoY. FY22 EPS is estimated at NTD6.03. Due to UMC’s 100% capacity utilization rate and higher ASP/earnings, we reiterate BUY with TP of NTD74.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United Microelectronics Corp

UMC (2303 TT, BUY, NTD57.30)