Voya Investment Management LLC Increases Position in Universal Electronics Inc. (UEIC)
Voya Investment Management LLC boosted its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,411 shares of the technology company’s stock after buying an additional 30,337 shares during the quarter. Voya Investment Management LLC owned 3.12% of Universal Electronics worth $30,043,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Great West Life Assurance Co. Can boosted its position in shares of Universal Electronics by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 20,215 shares of the technology company’s stock valued at $1,383,000 after purchasing an additional 517 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Universal Electronics by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 181,621 shares of the technology company’s stock valued at $12,440,000 after purchasing an additional 2,825 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Universal Electronics by 7.4% in 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. Comerica Bank boosted its position in shares of Universal Electronics by 2.9% in the 1st quarter. Comerica Bank now owns 16,012 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 456 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Universal Electronics in the 1st quarter valued at $307,000. 95.49% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $77.25 price target on shares of Universal Electronics in a research report on Thursday, August 10th. BidaskClub lowered Universal Electronics from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One investment 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.06.
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In other news, Director William C. Mulligan acquired 5,000 shares of Universal Electronics stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average cost of $55.91 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $60.31, for a total value of $603,100.00. Following the transaction, the director now directly owns 35,726 shares of the company’s stock, valued at $2,154,635.06. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
Shares of Universal Electronics Inc. (NASDAQ UEIC) opened at 63.40 on Friday. Universal Electronics Inc. has a 1-year low of $52.90 and a 1-year high of $77.97. The stock has a market capitalization of $913.02 million, a P/E ratio of 58.65 and a beta of 1.64. The stock’s 50 day moving average price is $59.02 and its 200-day moving average price is $64.90.
Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The firm had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Universal Electronics Inc. will post $3.14 EPS for the current fiscal year.
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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