Blue Trust Inc. Has $1.59 Million Holdings in United Microelectronics Co. (NYSE:UMC)

Blue Trust Inc. raised its position in shares of United Microelectronics Co. (NYSE:UMC) by 136.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 181,782 shares of the semiconductor company’s stock after buying an additional 104,797 shares during the period. Blue Trust Inc.’s holdings in United Microelectronics were worth $1,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC lifted its position in shares of United Microelectronics by 14.3% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 41,697 shares of the semiconductor company’s stock valued at $336,000 after acquiring an additional 5,228 shares in the last quarter. Creative Planning lifted its holdings in shares of United Microelectronics by 22.6% in the third quarter. Creative Planning now owns 661,802 shares of the semiconductor company’s stock valued at $5,572,000 after purchasing an additional 121,919 shares in the last quarter. Cherrydale Wealth Management LLC acquired a new stake in shares of United Microelectronics in the third quarter worth $104,000. Viking Fund Management LLC purchased a new position in shares of United Microelectronics during the third quarter valued at $84,000. Finally, Ritholtz Wealth Management raised its position in United Microelectronics by 3.2% during the third quarter. Ritholtz Wealth Management now owns 110,672 shares of the semiconductor company’s stock valued at $932,000 after buying an additional 3,414 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered United Microelectronics from a “buy” rating to a “neutral” rating and set a $7.40 price objective for the company. in a research report on Thursday.

United Microelectronics Stock Down 3.4 %

United Microelectronics stock opened at $7.73 on Friday. The firm’s 50 day moving average price is $8.46 and its two-hundred day moving average price is $8.30. The firm has a market cap of $19.37 billion, a PE ratio of 11.04, a P/E/G ratio of 4.35 and a beta of 1.18. United Microelectronics Co. has a twelve month low of $6.96 and a twelve month high of $9.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.37 and a current ratio of 1.66.

United Microelectronics (NYSE:UMC) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. United Microelectronics had a return on equity of 14.80% and a net margin of 23.90%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts predict that United Microelectronics Co. will post 0.66 EPS for the current fiscal year.

About United Microelectronics

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.