Thomson Horstmann & Bryant Inc. lowered its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 18.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,951 shares of the technology company’s stock after selling 20,336 shares during the quarter. Thomson Horstmann & Bryant Inc. owned about 0.62% of Universal Electronics worth $5,639,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of UEIC. Karp Capital Management Corp acquired a new position in shares of Universal Electronics during the first quarter valued at about $307,000. Victory Capital Management Inc. increased its holdings in shares of Universal Electronics by 23.8% during the first quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after acquiring an additional 321 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Universal Electronics by 20.8% during the first quarter. OppenheimerFunds Inc. now owns 7,361 shares of the technology company’s stock valued at $504,000 after acquiring an additional 1,268 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Universal Electronics by 2.8% during the first quarter. Principal Financial Group Inc. now owns 115,050 shares of the technology company’s stock valued at $7,881,000 after acquiring an additional 3,141 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Universal Electronics by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the technology company’s stock valued at $279,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.
Several equities analysts have recently issued reports on the stock. B. Riley restated a “buy” rating and set a $77.25 price objective on shares of Universal Electronics in a report on Monday, July 31st. BidaskClub downgraded shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Piper Jaffray Companies cut their price objective on shares of Universal Electronics to $70.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Universal Electronics from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.75.
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In other Universal Electronics news, Director William C. Mulligan bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the transaction, the director now directly owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $60.31, for a total value of $603,100.00. Following the transaction, the director now owns 35,726 shares in the company, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) traded down $0.25 during trading hours on Friday, reaching $51.25. 64,500 shares of the company traded hands, compared to its average volume of 66,406. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Universal Electronics Inc. has a one year low of $48.50 and a one year high of $74.85. The firm has a market cap of $729.61, a P/E ratio of 23.84, a PEG ratio of 1.39 and a beta of 1.59.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The company had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $182.53 million. During the same quarter in the prior year, the company posted $0.93 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts anticipate that Universal Electronics Inc. will post 2.11 EPS for the current year.
About Universal Electronics
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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