State Street Corp raised its holdings in Universal Electronics Inc. (NASDAQ:UEIC) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 349,027 shares of the technology company’s stock after buying an additional 17,564 shares during the quarter. State Street Corp owned about 2.42% of Universal Electronics worth $23,332,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Universal Electronics by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock valued at $131,000 after purchasing an additional 295 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Universal Electronics by 79.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,268 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Universal Electronics by 1.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock valued at $278,000 after purchasing an additional 75 shares during the period. Aperio Group LLC lifted its stake in shares of Universal Electronics by 4.8% in the 2nd quarter. Aperio Group LLC now owns 4,701 shares of the technology company’s stock valued at $314,000 after purchasing an additional 217 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $337,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Piper Jaffray Companies lowered their target price on Universal Electronics to $70.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. B. Riley set a $77.00 target price on Universal Electronics and gave the company a “buy” rating in a research note on Tuesday, October 31st. ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, BidaskClub cut Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Universal Electronics presently has an average rating of “Hold” and an average target price of $72.75.
Universal Electronics Inc. (NASDAQ UEIC) opened at $50.70 on Wednesday. The stock has a market capitalization of $732.45, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.59. Universal Electronics Inc. has a one year low of $48.50 and a one year high of $74.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 1.34.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). The company had revenue of $175.51 million for the quarter, compared to analysts’ expectations of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. equities research analysts forecast that Universal Electronics Inc. will post 2.11 EPS for the current fiscal year.
In related news, Director William C. Mulligan acquired 5,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the purchase, the director now owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $60.31, for a total value of $603,100.00. Following the completion of the transaction, the director now owns 35,726 shares of the company’s stock, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by insiders.
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Universal Electronics Company Profile
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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