United Microelectronics (UMC) Touches 3-Year high on New Memory Development

We recently published 10 Stocks Breaking Records While Wall Street Bleeds. United Microelectronics Corp. (NYSE:UMC) was one of the top performers on Tuesday.

United Microelectronics jumped to a new three-year high on Tuesday, as investors took heart from the successful development of a superflash memory capable of working reliably in extreme conditions.

At intra-day trading, the stock surged to its highest price of $10.93 before trimming gains to finish the session just up by 15.91 percent at $10.78 apiece.

In a statement, United Microelectronics Corp. (NYSE:UMC) said that it has completed, alongside Silicon Storage Technology (SST), the full qualification and release to production of the latter’s embedded SuperFlash Gen 4 (ESF4) with full automotive grade 1 (AG1) capability on UMC’s 28HPC+ foundry process platform.

United Microelectronics Corp. (NYSE:UMC) said that they developed the ESF4 in a bid to deliver enhanced embedded non-volatile memory (eNVM) performance and demonstrated reliability for automotive controllers while simultaneously significantly reducing the number of additional masking steps versus other foundries’ 28nm High-k/Metal-Gate Stack (HKMG) eFlash offerings.

Among the new product’s offerings include Automotive Electronics Council (AEC) Q-100 Grade 1 qualified for temperatures range of -40 to 150 degrees Celsius and reading access time of less than 12.5 nanoseconds, among others.

United Microelectronics Corp. (NYSE:UMC) encouraged customers currently manufacturing automotive controller products using foundry 40nm ESF3 AG1 platforms to upgrade to the UMC 28nm ESF4 AG1 platform.

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Disclosure: None. This article is originally published at Insider Monkey.