Universal Electronics Inc. (NASDAQ:UEIC) Position Raised by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans increased its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,120 shares of the technology company’s stock after buying an additional 330 shares during the period. Thrivent Financial For Lutherans owned approximately 0.06% of Universal Electronics worth $556,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in UEIC. Russell Investments Group Ltd. bought a new stake in Universal Electronics during the fourth quarter worth approximately $1,856,000. Wells Fargo & Company MN increased its stake in Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock worth $11,880,000 after buying an additional 42,878 shares in the last quarter. Comerica Bank increased its stake in Universal Electronics by 6.1% in the fourth quarter. Comerica Bank now owns 15,556 shares of the technology company’s stock worth $1,041,000 after buying an additional 897 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Universal Electronics by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 95,130 shares of the technology company’s stock worth $6,516,000 after buying an additional 11,210 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in Universal Electronics during the fourth quarter worth approximately $1,061,000. Institutional investors and hedge funds own 92.86% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) opened at 67.175 on Tuesday. Universal Electronics Inc. has a one year low of $52.90 and a one year high of $80.42. The company has a market capitalization of $969.47 million, a P/E ratio of 55.979 and a beta of 1.65. The firm has a 50 day moving average price of $65.32 and a 200 day moving average price of $66.19.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Universal Electronics had a return on equity of 14.40% and a net margin of 2.68%. The firm had revenue of $162.30 million during the quarter, compared to analyst estimates of $158.77 million. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Universal Electronics Inc. will post $3.35 EPS for the current fiscal year.
A number of equities research analysts recently commented on UEIC shares. B. Riley reiterated a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a report on Wednesday, March 22nd. Lake Street Capital downgraded Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a report on Friday, May 5th. Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price objective on shares of Universal Electronics in a report on Monday, May 15th. Finally, BidaskClub upgraded Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.06.
In other news, Director Edward K. Zinser sold 10,000 shares of Universal Electronics stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $72.00, for a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,440,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.82% of the company’s stock.
Universal Electronics Company 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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