Universal Electronics Inc. (UEIC) Stake Increased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. raised its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 4,267.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,073 shares of the company’s stock after buying an additional 174,973 shares during the period. UBS Asset Management Americas Inc. owned approximately 1.24% of Universal Electronics worth $12,943,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP boosted its stake in 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 stake in 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 stake in 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 acquired a new stake in Universal Electronics during the first quarter valued at $360,000. Finally, BNP Paribas Arbitrage SA boosted its stake in 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. Hedge funds and other institutional investors own 93.76% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) traded up 0.09% on Friday, hitting $77.78. The stock had a trading volume of 47,711 shares. The firm has a 50-day moving average of $75.75 and a 200 day moving average of $69.08. Universal Electronics Inc. has a 1-year low of $40.28 and a 1-year high of $80.42. The company has a market capitalization of $1.13 billion, a PE ratio of 46.24 and a beta of 1.80.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Universal Electronics had a net margin of 3.87% and a return on equity of 16.53%. The business earned $172.20 million during the quarter, compared to analyst estimates of $170.02 million. During the same period in the previous year, the business earned $0.67 EPS. Universal Electronics’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts anticipate that Universal Electronics Inc. will post $3.27 earnings per share for the current fiscal year.
UEIC has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on Universal Electronics in a research note on Thursday, August 18th. They set a “buy” rating and a $87.00 target price for the company. Sidoti initiated coverage on Universal Electronics in a research note on Friday, July 22nd. They set a “buy” rating for the company. Dougherty & Co upped their target price on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. Zacks Investment Research cut Universal Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th. Finally, B. Riley reiterated a “neutral” rating and issued a $73.50 price target on shares of Universal Electronics in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $74.92.
In other news, insider David Cheung Hyen Chong sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $75.77, for a total transaction of $265,195.00. Following the completion of the transaction, the insider now directly 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 can be accessed through the SEC website. Also, EVP Louis Sylvester Hughes sold 398 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $76.07, for a total transaction of $30,275.86. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate 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.
Receive News & Ratings for Universal Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.