United Microelectronics Corp (ADR) (NYSE:UMC) Announces Double Digit Growth

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Dallas, Texas 10/14/2013 (Financialstrend) – On October 9, United Microelectronics Corp (ADR) (NYSE:UMC) the Taiwan based “Semiconductor Equipment & Materials” manufacturer announced sales and revenue numbers for the month of September. The chipmaker which churns out semiconductor products on a turnkey basis to its bigger OEM’s has posted a healthy 14.7% increase in sales last month in comparison to September 2012. The world’s number 2 chip maker had posted Taiwanese $10.85 billion in September sales. Year to date it has notched up impressive Taiwanese $93 billion in sales which is a 7.2% increase over the same period of FY12.

The strong September surge in sales comes on steady increase company had recorded in its August and July sales numbers. In August it had managed a 6.2% increase over previous August and in July it had grown by 11.5% over July 2012. In its 2Q, which was the latest quarter for which it has reported operational results, the sales had gone up by 22% on a year on year compare with earnings per share up 100% over the same time period.

The chip maker has a market cap of $5.2 billion. The common stock has 2.49 billion shares outstanding. It has recorded a annual dividend yield of 2.37% translating to a $0.05 dividend it has paid out over the trailing 12 months period. Investors who track the stock would tell you that the low yield of the stock is related to the low profit and operating margins of UMC. On a trailing twelve months time frame, United Micro’s profit margin stood at 9.2% and operating margin stood at 0.9%.

As of close of business on October 12, the chip markers stock was trading at $2.11 per share. It translates to a 0.96% increase over its previous day close and 11% dip from its 52 week high valuation.