Universal Electronics Inc. (NASDAQ:UEIC) Stake Increased by Granite Investment Partners LLC

Granite Investment Partners LLC raised its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 191,806 shares of the technology company’s stock after buying an additional 4,661 shares during the period. Granite Investment Partners LLC’s holdings in Universal Electronics were worth $12,823,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Universal Electronics by 151,751.4% in the first quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock valued at $116,813,000 after buying an additional 1,704,168 shares during the period. Kennedy Capital Management Inc. boosted its stake in shares of Universal Electronics by 69.4% in the first quarter. Kennedy Capital Management Inc. now owns 196,649 shares of the technology company’s stock valued at $13,470,000 after buying an additional 80,546 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock valued at $11,880,000 after buying an additional 42,878 shares during the period. Vanguard Group Inc. boosted its stake in shares of Universal Electronics by 5.6% in the first quarter. Vanguard Group Inc. now owns 723,290 shares of the technology company’s stock valued at $49,546,000 after buying an additional 38,395 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of Universal Electronics by 2.9% in the first quarter. William Blair Investment Management LLC now owns 1,331,695 shares of the technology company’s stock valued at $91,221,000 after buying an additional 37,494 shares during the period. 91.85% of the stock is owned by institutional investors and hedge funds.

Shares of Universal Electronics Inc. (NASDAQ:UEIC) opened at 60.80 on Thursday. Universal Electronics Inc. has a 52-week low of $52.90 and a 52-week high of $80.42. The company’s 50-day moving average price is $66.99 and its 200-day moving average price is $66.38. The firm has a market cap of $877.47 million, a PE ratio of 50.67 and a beta of 1.65.

Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Equities analysts expect that Universal Electronics Inc. will post $3.08 earnings per share for the current fiscal year.

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Several analysts have recently commented on UEIC shares. Lake Street Capital cut Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research report on Friday, May 5th. Zacks Investment Research cut Universal Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. BidaskClub raised Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a research report on Friday, May 5th. Finally, B. Riley reaffirmed a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $74.06.

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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Institutional Ownership by Quarter for Universal Electronics (NASDAQ:UEIC)

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