United Micro – UMC

United Micro – UMC

United Micro – UMC Jonathan Poland

United Microelectronics Corporation is a leading semiconductor wafer foundry, offering a range of services from circuit design and mask tooling to wafer fabrication, assembly, and testing. Established in 1980 and headquartered in Hsinchu City, Taiwan, the company operates in multiple locations around the world, including Singapore, China, Hong Kong, Japan, the United States, and Europe. It mainly serves fabless design companies and integrated device manufacturers.

as of February 9, 2023

Priced at 11x forward earnings, UMC may be the third largest chip foundry, but it is also the most undervalued when compared to Taiwan Semi and Samsung, both of which are valued in the hundreds of billions while United Micro is priced at just $22 billion. And, when you adjust for net cash it’s closer to $16 billion. The discrepancy is too large to ignore at this level. Especially when gross margins are 45% and return on equity is 28%.

Latest Updates
First Republic Bank – FRC Jonathan Poland

First Republic Bank – FRC

First Republic Bank and its subsidiaries offer private banking, private business banking, and private wealth management services to clients in…

Western Alliance – WAL Jonathan Poland

Western Alliance – WAL

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank, offering various banking products and related services…

KeyCorp – KEY Jonathan Poland

KeyCorp – KEY

KeyCorp (KEY) is a financial services company based in Cleveland, Ohio, USA, established in 1849. It is one of the…

Zions Bancorporation – ZION Jonathan Poland

Zions Bancorporation – ZION

Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah. Zions Bancorporation has historical and cultural ties…

SVB Financial – SIVB Jonathan Poland

SVB Financial – SIVB

SVB Financial Group is a financial services company headquartered in Santa Clara, California. It is the parent company of Silicon…

Laird Superfood – LSF Jonathan Poland

Laird Superfood – LSF

Laird Superfood is a health and wellness company that was founded in 2015 by Laird Hamilton, a renowned big wave…

Hercules Capital – HTGC Jonathan Poland

Hercules Capital – HTGC

Hercules Capital, Inc. is a business development company. The company offers a range of financial solutions such as venture debt,…

Icahn Enterprises – IEP Jonathan Poland

Icahn Enterprises – IEP

Icahn Enterprises L.P. is a diversified holding company headquartered in New York City, founded and chaired by billionaire investor Carl…

Advanced Micro Devices – AMD Jonathan Poland

Advanced Micro Devices – AMD

Advanced Micro Devices Inc. (AMD) is an American multinational semiconductor company that designs and manufactures computer processors, graphics processing units…

Read More →

Jonathan Poland (“JP”) is a publisher, not a registered investment advisor, and nothing on this website is intended, and it should not be construed, to be investment advice. Under no circumstances does any information posted on this website represent a recommendation to buy or sell a security. The information on this site is not intended to be, nor does it constitute investment advice or recommendations. In no event shall JP be liable to any visitor or third party for any damages of any kind arising out of the use of any content or other material published or available on this site, or relating to the use of, or inability to use, any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Past performance does not guarantee future results. Read the full legal disclaimer.

Introducing Key Bridge

A private membership for the pursuit of
profit and progress. A service dedicated to
building better assets and tackling global
challenges to advance the greater good.
Visit the website to learn more.