Rice Hall James & Associates LLC lowered its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 39,789 shares of the company’s stock after selling 956 shares during the period. Rice Hall James & Associates LLC’s holdings in Universal Electronics were worth $2,876,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in UEIC. Smith Asset Management Group LP boosted its position in shares of Universal Electronics by 70.7% in the second quarter. Smith Asset Management Group LP now owns 2,173 shares of the company’s stock valued at $157,000 after buying an additional 900 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Universal Electronics by 12.0% in the first quarter. Legal & General Group Plc now owns 2,647 shares of the company’s stock valued at $165,000 after buying an additional 284 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Universal Electronics by 4.7% in the second quarter. Capstone Asset Management Co. now owns 4,643 shares of the company’s stock valued at $336,000 after buying an additional 210 shares during the last quarter. Virginia Retirement System bought a new position in shares of Universal Electronics during the first quarter valued at about $360,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Universal Electronics by 90.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,178 shares of the company’s stock valued at $374,000 after buying an additional 2,463 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) traded up 1.29% during mid-day trading on Thursday, hitting $73.66. The company’s stock had a trading volume of 65,714 shares. The stock’s 50 day moving average price is $75.27 and its 200 day moving average price is $70.02. Universal Electronics Inc. has a 52-week low of $44.12 and a 52-week high of $80.42. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 43.79 and a beta of 1.75.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Universal Electronics had a return on equity of 16.53% and a net margin of 3.87%. The firm earned $172.20 million during the quarter, compared to analyst estimates of $170.02 million. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was up 16.7% compared to the same quarter last year. Equities analysts forecast that Universal Electronics Inc. will post $3.27 EPS for the current year.
Several research analysts recently issued reports on UEIC shares. Lake Street Capital started coverage on Universal Electronics in a research report on Thursday, August 18th. They set a “buy” rating and a $87.00 target price on the stock. Sidoti assumed coverage on Universal Electronics in a research report on Friday, July 22nd. They set a “buy” rating on the stock. Dougherty & Co lifted their price target on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Zacks Investment Research lowered Universal Electronics from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Finally, B. Riley reiterated a “neutral” rating and set a $73.50 price target on shares of Universal Electronics in a report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Universal Electronics presently has a consensus rating of “Buy” and an average price target of $74.92.
In related news, insider David Cheung Hyen Chong sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $75.77, for a total value of $265,195.00. Following the sale, the insider now owns 25,076 shares in the company, valued at approximately $1,900,008.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bryan M. Hackworth sold 23,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $78.42, for a total value of $1,803,660.00. Following the completion of the sale, the chief financial officer now owns 41,314 shares in the company, valued at approximately $3,239,843.88. The disclosure for this sale can be found here. 5.82% of the stock is owned by insiders.
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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