5 Tech Stocks with Low PE Ratios

2. United Microelectronics Corporation (NYSE:UMC)

PE Ratio as of November 9: 7.40

United Microelectronics Corporation (NYSE:UMC) is Taiwan’s first semiconductor company founded in 1980. As of 2022, it is the third-largest dedicated chip foundry in the world, with a 7% market share. Trading at an earnings multiple of 7.40x, United Microelectronics Corporation (NYSE:UMC) makes it to the second spot on our list of tech stocks with low PE ratios.

On October 25, United Microelectronics Corporation (NYSE:UMC) announced its earnings per American Depositary Share (EPADS) of $0.20 for its third quarter, exceeding the estimates by $0.04. Its revenue of $1.77 billion was down over 24% YoY but topped the estimates by $30 million. Despite the YoY decline in net income and revenues, United Microelectronics Corporation (NYSE:UMC)’s President, Jason Wang, remains optimistic and expects stability in demand for Q4 due to rush orders from PC and smartphones. However, he still warned the customers to remain cautious.

Follow United Microelectronics Corp (NYSE:UMC)