Schwab Charles Investment Management Inc. boosted its holdings in Universal Electronics Inc (NASDAQ:UEIC) by 15.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,733 shares of the technology company’s stock after purchasing an additional 12,517 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.66% of Universal Electronics worth $4,477,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in Universal Electronics by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock valued at $741,000 after purchasing an additional 91 shares during the last quarter. Victory Capital Management Inc. increased its stake in Universal Electronics by 40.7% in the third quarter. Victory Capital Management Inc. now owns 2,760 shares of the technology company’s stock valued at $175,000 after purchasing an additional 798 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Universal Electronics by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 184,108 shares of the technology company’s stock valued at $11,672,000 after purchasing an additional 1,315 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Universal Electronics by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,430 shares of the technology company’s stock valued at $344,000 after purchasing an additional 2,010 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Universal Electronics by 51.4% in the third quarter. BNP Paribas Arbitrage SA now owns 8,232 shares of the technology company’s stock valued at $522,000 after purchasing an additional 2,796 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.
Several equities research analysts have commented on UEIC shares. B. Riley restated a “buy” rating and set a $73.00 price target on shares of Universal Electronics in a research note on Tuesday, February 20th. Zacks Investment Research upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, BidaskClub upgraded Universal Electronics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Universal Electronics currently has an average rating of “Hold” and a consensus target price of $71.75.
In other news, EVP David Cheung Hyen Chong sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $51.80, for a total value of $181,300.00. Following the completion of the sale, the executive vice president now owns 25,649 shares of the company’s stock, valued at $1,328,618.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard A. Firehammer, Jr. sold 2,817 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $52.35, for a total value of $147,469.95. The disclosure for this sale can be found here. Insiders sold 16,317 shares of company stock valued at $829,170 in the last ninety days. Company insiders own 5.94% of the company’s stock.
NASDAQ:UEIC traded down $1.35 on Friday, hitting $50.75. 51,821 shares of the stock were exchanged, compared to its average volume of 73,814. The firm has a market capitalization of $715.58, a PE ratio of 18.06, a P/E/G ratio of 1.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.22 and a quick ratio of 0.74. Universal Electronics Inc has a fifty-two week low of $41.95 and a fifty-two week high of $72.50.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Universal Electronics had a positive return on equity of 11.65% and a negative net margin of 1.48%. The company had revenue of $181.15 million during the quarter, compared to analyst estimates of $175.42 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. research analysts anticipate that Universal Electronics Inc will post 1.83 earnings per share for the current year.
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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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