JPMorgan Chase & Co. cut its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,019 shares of the technology company’s stock after selling 15,436 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Universal Electronics worth $2,399,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in Universal Electronics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock worth $108,000 after buying an additional 20 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Universal Electronics by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,470 shares of the technology company’s stock worth $483,000 after buying an additional 175 shares during the last quarter. First Mercantile Trust Co. boosted its position in Universal Electronics by 7.7% in the first quarter. First Mercantile Trust Co. now owns 2,556 shares of the technology company’s stock worth $175,000 after buying an additional 183 shares during the last quarter. Mason Street Advisors LLC boosted its position in Universal Electronics by 6.3% in the first quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock worth $232,000 after buying an additional 200 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Universal Electronics by 7.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the technology company’s stock worth $257,000 after buying an additional 259 shares during the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

Universal Electronics Inc. (UEIC) traded down 0.16% during mid-day trading on Monday, hitting $62.60. 58,822 shares of the stock were exchanged. The firm has a market cap of $903.44 million, a P/E ratio of 52.17 and a beta of 1.65. Universal Electronics Inc. has a 12-month low of $52.90 and a 12-month high of $80.42. The company has a 50 day moving average of $67.54 and a 200 day moving average of $66.48.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates 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%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. On average, equities analysts anticipate that Universal Electronics Inc. will post $3.08 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on UEIC shares. Lake Street Capital cut shares of Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a report on Friday, May 5th. Zacks Investment Research cut shares of Universal Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. BidaskClub upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 target price on shares of Universal Electronics in a report on Friday, May 5th. Finally, B. Riley reiterated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a 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 assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.06.

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.

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

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