Goldman Sachs Group Inc. grew its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 86.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,406 shares of the technology company’s stock after buying an additional 8,093 shares during the period. Goldman Sachs Group Inc. owned approximately 0.12% of Universal Electronics worth $1,163,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in Universal Electronics by 14.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,019 shares of the technology company’s stock worth $1,806,000 after buying an additional 3,496 shares in the last quarter. BlackRock Inc. grew its stake in Universal Electronics by 151,751.4% in the 1st quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock worth $116,813,000 after buying an additional 1,704,168 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Universal Electronics in the 1st quarter worth approximately $2,036,000. BNP Paribas Arbitrage SA grew its stake in Universal Electronics by 45.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,436 shares of the technology company’s stock worth $363,000 after buying an additional 1,688 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Universal Electronics by 19.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,864 shares of the technology company’s stock worth $4,537,000 after buying an additional 11,194 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.
Shares of Universal Electronics Inc. (UEIC) opened at $51.20 on Tuesday. Universal Electronics Inc. has a 12 month low of $48.50 and a 12 month high of $74.85. The stock has a market cap of $733.17, a price-to-earnings ratio of 23.73, a PEG ratio of 1.39 and a beta of 1.59. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 0.05.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The business had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $182.53 million. During the same period last year, the company posted $0.93 EPS. Universal Electronics’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts forecast that Universal Electronics Inc. will post 2.11 earnings per share for the current fiscal year.
A number of research firms have commented on UEIC. B. Riley reissued a “buy” rating and issued a $77.25 price target on shares of Universal Electronics in a research note on Thursday, August 10th. BidaskClub cut shares of Universal Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies cut their price objective on shares of Universal Electronics to $70.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Zacks Investment Research cut shares of Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Finally, ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.75.
In other news, Director William C. Mulligan purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average cost of $55.91 per share, for a total transaction of $279,550.00. Following the acquisition, the director now directly owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the sale, the director now owns 35,726 shares of the company’s stock, valued at $2,154,635.06. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
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Universal Electronics 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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