Formula Growth Ltd. Has $1,538,000 Stake in Universal Electronics Inc. (UEIC)
Formula Growth Ltd. maintained its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,000 shares of the technology company’s stock at the close of the second quarter. Formula Growth Ltd. owned about 0.16% of Universal Electronics worth $1,538,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Universal Electronics by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock worth $114,000 after buying an additional 321 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Universal Electronics by 79.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock worth $191,000 after buying an additional 1,268 shares during the last quarter. Mason Street Advisors LLC grew its stake in Universal Electronics by 6.3% during the 1st 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. Invictus RG purchased a new position in Universal Electronics during the 1st quarter worth $236,000. Finally, BNP Paribas Arbitrage SA grew its stake in Universal Electronics by 7.4% during the 1st 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. 95.49% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on UEIC. ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. BidaskClub downgraded Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. B. Riley restated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Universal Electronics currently has a consensus rating of “Hold” and a consensus price target of $74.06.
In other Universal Electronics news, Director Gregory Stapleton sold 10,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $60.31, for a total value of $603,100.00. Following the sale, the director now directly owns 35,726 shares in the company, valued at $2,154,635.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William C. Mulligan purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the purchase, the director now owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The disclosure for this purchase can be found here. 5.82% of the stock is owned by company insiders.
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Universal Electronics Inc. (NASDAQ UEIC) opened at 61.45 on Friday. The stock has a market capitalization of $884.94 million, a P/E ratio of 56.85 and a beta of 1.64. The company’s 50-day moving average price is $59.02 and its 200 day moving average price is $64.90. Universal Electronics Inc. has a 52 week low of $52.90 and a 52 week high of $77.97.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.78. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The company had revenue of $177.58 million for the quarter, compared to analysts’ expectations of $176.12 million. During the same period last year, the firm earned $0.74 earnings per share. Universal Electronics’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Universal Electronics Inc. will post $3.14 EPS for the current fiscal year.
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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