HGK Asset Management Inc. Has $357,000 Position in Universal Electronics Inc. (UEIC)
HGK Asset Management Inc. trimmed its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,335 shares of the technology company’s stock after selling 191 shares during the quarter. HGK Asset Management Inc.’s holdings in Universal Electronics were worth $357,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in UEIC. State of Alaska Department of Revenue raised its stake in shares of Universal Electronics by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock valued at $108,000 after purchasing an additional 20 shares during the period. Victory Capital Management Inc. raised its stake in shares of Universal Electronics by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after purchasing an additional 321 shares during the period. Mason Street Advisors LLC raised its stake in shares of Universal Electronics by 6.3% during the 1st quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock valued at $232,000 after purchasing an additional 200 shares during the period. Invictus RG bought a new stake in shares of Universal Electronics during the 1st quarter valued at $236,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Universal Electronics by 7.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the technology company’s stock valued at $257,000 after purchasing an additional 259 shares during the period. Institutional investors own 95.49% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) opened at 56.175 on Wednesday. The company has a market capitalization of $808.98 million, a price-to-earnings ratio of 51.966 and a beta of 1.64. Universal Electronics Inc. has a 1-year low of $52.90 and a 1-year high of $77.97. The company’s 50 day moving average price is $60.83 and its 200-day moving average price is $65.30.
Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $177.58 million for the quarter, compared to the consensus estimate of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. Universal Electronics’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities analysts forecast that Universal Electronics Inc. will post $3.14 earnings per share for the current year.
UEIC has been the topic of a number of analyst reports. BidaskClub lowered Universal Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 24th. ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, B. Riley reiterated a “buy” rating and set a $77.25 price objective on shares of Universal Electronics in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.06.
In other Universal Electronics news, Director William C. Mulligan acquired 5,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the transaction, the director now directly owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.82% of the stock is currently 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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