Legal & General Group Plc cut its position in Universal Electronics Inc. (NASDAQ:UEIC) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,122 shares of the technology company’s stock after selling 237 shares during the period. Legal & General Group Plc’s holdings in Universal Electronics were worth $1,650,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Universal Electronics during the fourth quarter worth approximately $1,856,000. Comerica Bank increased its stake in Universal Electronics by 6.1% in the fourth quarter. Comerica Bank now owns 15,556 shares of the technology company’s stock worth $1,041,000 after buying an additional 897 shares during the last quarter. State Street Corp increased its stake in Universal Electronics by 3.4% in the fourth quarter. State Street Corp now owns 312,600 shares of the technology company’s stock worth $20,180,000 after buying an additional 10,197 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Universal Electronics during the fourth quarter worth approximately $1,061,000. Finally, AQR Capital Management LLC increased its stake in Universal Electronics by 20.4% in the fourth quarter. AQR Capital Management LLC now owns 8,463 shares of the technology company’s stock worth $546,000 after buying an additional 1,433 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.
Universal Electronics Inc. (NASDAQ:UEIC) opened at 67.30 on Friday. The stock has a market capitalization of $971.27 million, a P/E ratio of 56.08 and a beta of 1.65. The stock has a 50 day moving average of $66.87 and a 200 day moving average of $66.34. Universal Electronics Inc. has a 52-week low of $52.90 and a 52-week high of $80.42.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $162.30 million for the quarter, compared to the consensus estimate of $158.77 million. Universal Electronics had a net margin of 2.68% and a return on equity of 14.40%. Universal Electronics’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. On average, equities research analysts forecast that Universal Electronics Inc. will post $3.35 EPS for the current year.
Several research analysts have recently weighed in on UEIC shares. B. Riley reissued a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a research report on Monday, March 27th. Zacks Investment Research downgraded shares of Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Lake Street Capital downgraded shares of Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Friday, May 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a research report on Friday, May 5th. Finally, BidaskClub raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $74.06.
In related news, Director Edward K. Zinser sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $72.00, for a total value of $720,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,440,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.82% of the company’s stock.
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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