Analyst Consensus ?
ConsensusHold15 ratings
Bullish426.7%
Neutral853.3%
Bearish320.0%
United Microelectronics Corporation · UMC · FY2025 Q2 · Calendar Q3 2025
UMC Q2 FY2025: 22nm/28nm mix reached 40% of revenue
The quarter supports a measured growth case: shipment growth, higher utilization and record 22nm/28nm contribution are positives. FX pressure, demand and tariff uncertainty, competition, and margin restoration temper confidence in sustained earnings growth.
Reported Before market openNYSETechnology
$40.88B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.12
Consensus $0.14
EPS surprise
-14.3%
Reported versus consensus
Reported revenue
$1.97B
Consensus $1.93B
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.3%
Event window
SPY move
-0.1%
Same window
Abnormal move
-0.2%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
-5.4%
Up to 20 sessions
UMCSPY benchmark
Ask FN2 about UMC FY2025 Q2
Transcript, numbers and history already loaded
Why did UMC fall 0.3% after missing EPS estimates in FY2025 Q2?What changed in UMC's guidance and outlook in FY2025 Q2?Give me the bull and bear case for UMC after FY2025 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter's flat sequential wafer shipments and 37% 22nm/28nm revenue mix, UMC reported 6% sequential shipment growth and a 40% mix in Q2. Utilization rose to 76%; gross margin was 28.7%, with management citing an approximately three-point FX impact.
Guidance delta
Management maintained its guidance, projected mild shipment growth in Q3, and kept the 2025 capex budget at USD 1.8 billion.
Key takeaways
- Wafer shipments increased 6% sequentially and utilization reached 76%.
- 22nm and 28nm technologies contributed a record 40% of revenue.
- Gross margin was 28.7%; management said foreign-exchange appreciation reduced it by approximately three percentage points.
- Management maintained the 2025 capex budget at USD 1.8 billion and projected mild Q3 shipment growth.
Management priorities
- Ramp production at Singapore Fab 12i, with production slated to start in 2026.
- Expand 22nm and 28nm capacity and communications-market share.
- Develop advanced packaging and specialty-technology offerings while maintaining capex discipline.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$16.52Current
$7.4Low
$9.03Average
$10.2High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Sell | Buy | Downgrade | Jan 21, 2025 |
| JP Morgan | Neutral | Overweight | Downgrade | Oct 30, 2024 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Oct 28, 2024 |
| Goldman Sachs | Neutral | Buy | Downgrade | Oct 17, 2024 |
| Bernstein | Underperform | Market Perform | Downgrade | Jun 8, 2021 |
| China Renaissance | Buy | Hold | Upgrade | Feb 5, 2020 |
| Citi | Neutral | Sell | Upgrade | Nov 25, 2019 |
| HSBC | Hold | Buy | Downgrade | Jan 24, 2019 |
| UBS | Neutral | Buy | Downgrade | Nov 7, 2018 |
| HBSC | Hold | Buy | Downgrade | Oct 25, 2018 |
| Credit Suisse | Underperform | Neutral | Downgrade | Jul 27, 2017 |
| Bank of America | Buy | Underperform | Upgrade | Dec 8, 2014 |
| B of A Securities | Buy | Underperform | Upgrade | Dec 8, 2014 |
| Deutsche Bank | Buy | Hold | Upgrade | Oct 29, 2014 |
| Barclays | Equal Weight | Underweight | Upgrade | Apr 16, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $16.52. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BNP Paribas | Analyst unavailable | $10.2 | $22.22 | -38.3% | May 28, 2026 |
| BNP Paribas | Alex Chang | $8.6 | $11.39 | -48.0% | Jan 28, 2026 |
| Goldman Sachs | Bruce Lu | $7.4 | $8.04 | -55.2% | Oct 17, 2024 |
| HSBC | Frank Lee | $9.93 | $8.27 | -39.9% | Jan 25, 2024 |
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Start freeCompany context
Snapshot as of publicationUnited Microelectronics Corporation (UMC) operates as a specialized semiconductor wafer foundry, extending its services globally with operations across Taiwan, Singapore, China, Hong Kong, Japan, the United States, and Europe. The company offers a comprehensive range of solutions, from initial circuit blueprinting and mask generation to wafer manufacturing, final assembly, and rigorous testing. UMC's customer base consists of both integrated device manufacturers and companies focused solely on chip design. This corporation, founded in 1980, has its primary headquarters situated in Hsinchu City, Taiwan.
Historical context
All UMC earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TSEM Tower Semiconductor Ltd. | FY2026 Q3 · Calendar Q4 2026 | +7.5% | -6.7% | Tower Semiconductor posts record Q3 as silicon photonics expansion advances |
| AAPL Apple Inc. | FY2026 Q4 · Calendar Q4 2026 | +3.0% | -1.8% | Apple posts a record quarter as cost and supply pressures persist |
| PLTR Palantir Technologies Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.3% | -3.1% | Palantir raises FY2026 outlook as revenue growth accelerates |
| ON ON Semiconductor Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.5% | -2.2% | ON Semiconductor: AI power demand leads, Q4 outlook upbeat |
| CHKP Check Point Software Technologies Ltd. | FY2026 Q3 · Calendar Q4 2026 | +0.4% | -7.0% | Check Point Sees Q3 as Revenue Trough, While Subscriptions Grow |
| FN Fabrinet | FY2027 Q1 · Calendar Q4 2026 | +3.3% | -3.8% | Fabrinet posts 51% growth as capacity expansion accelerates |
Latest beats and misses
Who reports nextBeat on EPS
- TSEMFY2026 Q3 · November 2, 2026+7.5% EPS-6.7% move
- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the UMC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-11-03T13:10:46.584877+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T13:10:46.582028+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.