Why United Microelectronics Stock Gained Today
Shares of United Microelectronics (NYSE: UMC) were up by 4% as of 1 p.m. EDT today after the company reported monthly sales figures for September. The stock was up as much as 13% in the morning, setting a fresh 52-week high.
United Microelectronics reported a 34% jump in September revenue to 14.5 billion new Taiwan dollars, or approximately $507.2 million based on current exchange rates. That was the highest monthly growth that the contract chip manufacturer has reported since March. The report brings United Microelectronics total revenue for the third quarter to NT$44.9 billion, which was mostly in line with the consensus estimate.
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Source Fool.com
