Why United Microelectronics Stock Soared Today

Shares of United Microelectronics (NYSE: UMC) have soared today, up by 11% as of 1:40 p.m. EDT, after the chip foundry specialist certified a product design. The company also received positive sentiments from an analyst.

Cadence Design Systems (NASDAQ: CDNS) and United Microelectronics announced that the Cadence mmWave reference flow has been certified for the foundry's 28HPC+ manufacturing process technology, which will allow mutual customers to utilize the integrated RF design flow in order to accelerate product timelines. The reference flow includes designs, layout implementation, and electromagnetic analysis of transistors.

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Source Fool.com