• Despite a big earnings beat, the short-term prospects aren’t too exciting as capacity utilization is going to fall back a bit in Q3, and CapEx will ramp up.
• But we still see longer-term gains as the tailwinds have only temporarily subsided.
• It is also acquiring 84.5% of a Japanese foundry, which it didn’t own, and it’s going to list its Chinese daughter company Hijian on the mainland market.

Source: United Microelectronics Has Big Plans – United Microelectronics Corporation (NYSE:UMC) | Seeking Alpha