Geode Capital Management LLC lifted its position in shares of Universal Electronics Inc (NASDAQ:UEIC) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 132,440 shares of the technology company’s stock after buying an additional 2,809 shares during the quarter. Geode Capital Management LLC owned approximately 0.93% of Universal Electronics worth $6,257,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Princeton Capital Management LLC acquired a new position in Universal Electronics in the 4th quarter valued at about $1,250,000. Cortina Asset Management LLC raised its stake in Universal Electronics by 15.2% in the 4th quarter. Cortina Asset Management LLC now owns 137,560 shares of the technology company’s stock valued at $6,500,000 after purchasing an additional 18,192 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in Universal Electronics in the 4th quarter valued at about $71,002,000. OppenheimerFunds Inc. raised its stake in Universal Electronics by 21.2% in the 4th quarter. OppenheimerFunds Inc. now owns 9,747 shares of the technology company’s stock valued at $460,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Universal Electronics by 169.0% in the 4th quarter. Citadel Advisors LLC now owns 28,534 shares of the technology company’s stock valued at $1,348,000 after purchasing an additional 17,925 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.
NASDAQ UEIC opened at $49.70 on Tuesday. Universal Electronics Inc has a 12 month low of $41.95 and a 12 month high of $72.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.22 and a quick ratio of 0.74. The stock has a market cap of $699.38, a PE ratio of 17.69, a P/E/G ratio of 1.81 and a beta of 1.23.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. Universal Electronics had a negative net margin of 1.48% and a positive return on equity of 11.65%. The company had revenue of $181.15 million during the quarter, compared to the consensus estimate of $175.42 million. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. analysts expect that Universal Electronics Inc will post 1.83 earnings per share for the current fiscal year.
In other news, insider Richard A. Firehammer, Jr. sold 2,817 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $52.35, for a total transaction of $147,469.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $50.04, for a total value of $500,400.00. Following the sale, the director now owns 37,601 shares of the company’s stock, valued at approximately $1,881,554.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,317 shares of company stock valued at $829,170. Corporate insiders own 5.94% of the company’s stock.
UEIC has been the subject of several analyst reports. Zacks Investment Research raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. BidaskClub raised shares of Universal Electronics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $73.00 price objective on shares of Universal Electronics in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.75.
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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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