Stoneridge Investment Partners LLC Invests $501,000 in Universal Electronics Inc. (UEIC) Stock
Stoneridge Investment Partners LLC purchased a new stake in Universal Electronics Inc. (NASDAQ:UEIC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,908 shares of the technology company’s stock, valued at approximately $501,000. Stoneridge Investment Partners LLC owned approximately 0.05% of Universal Electronics at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in UEIC. Victory Capital Management Inc. boosted its stake in Universal Electronics by 17.7% in the second quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock worth $131,000 after purchasing an additional 295 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Universal Electronics by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock worth $191,000 after purchasing an additional 1,268 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Universal Electronics in the second quarter worth $209,000. PNC Financial Services Group Inc. boosted its stake in Universal Electronics by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock worth $278,000 after purchasing an additional 75 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Universal Electronics in the third quarter worth $291,000. 95.34% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $60.31, for a total transaction of $603,100.00. Following the completion of the transaction, the director now directly owns 35,726 shares in the company, valued at $2,154,635.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William C. Mulligan acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average price of $55.91 per share, with a total value of $279,550.00. Following the completion of the acquisition, the director now owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The disclosure for this purchase can be found here. 5.82% of the stock is owned by corporate insiders.
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Several brokerages have recently issued reports on UEIC. Zacks Investment Research lowered Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Thursday. B. Riley reaffirmed a “buy” rating and set a $77.25 price target on shares of Universal Electronics in a research note on Monday, July 31st. BidaskClub lowered Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine raised Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies cut their price target on Universal Electronics to $70.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Universal Electronics has an average rating of “Hold” and a consensus price target of $72.75.
Shares of Universal Electronics Inc. (UEIC) opened at $51.90 on Thursday. The company has a market capitalization of $724.39, a PE ratio of 23.29, a P/E/G ratio of 1.36 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 Inc. has a fifty-two week low of $48.50 and a fifty-two week high of $74.85.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $175.51 million during the quarter, compared to the consensus estimate of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 EPS. equities analysts expect that Universal Electronics Inc. will post 2.11 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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