United Microelectronics reported quarterly EPS of $0.13, beating consensus by $0.01 and marking a 30% increase from $0.10 a year earlier. Quarterly revenue rose 7.0% year-over-year to $1.97 billion, outperforming the $1.93 billion analysts expected. Following the release, UMC shares climbed to a 52-week high, trading up from the prior close of $11.33 and reaching $12.68 in intraday trade, on volume exceeding 26.8 million shares.

The company delivered a net margin of 17.08% and return on equity of 11.18%, underpinned by a gross margin exceeding 30% in its fourth quarter. Sequentially, consolidated revenue rose 4.5% from NT$59.13 billion to NT$61.81 billion, while net income attributable to shareholders was NT$10.06 billion, driving earnings per share to NT$0.81. Notably, sales from the 22 / 28 nm node surged 31% quarter-on-quarter to account for 13% of total revenue, reflecting improved product mix and rising demand in advanced segments.

Despite the robust results, BNP Paribas Exane cut its rating on UMC to Underperform with a price target of $8.60, citing concerns over near-term margin pressure. Bank of America also downgraded UMC to Underperform in November, while MarketBeat’s consensus target stands at $8.60. On the institutional front, Vise Technologies initiated a $1.47 million stake in Q2, Callan Family Office increased its holdings by 407%, and several other funds raised positions, collectively representing over 5% of shares held by hedge funds and institutions. These shifts suggest divergent views on UMC’s outlook despite the latest beat.