JPMorgan Chase & Co. increased its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 108.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,420 shares of the company’s stock after buying an additional 6,985 shares during the period. JPMorgan Chase & Co. owned about 0.09% of Universal Electronics worth $999,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UEIC. Sei Investments Co. raised its position in Universal Electronics by 52.4% in the second quarter. Sei Investments Co. now owns 17,504 shares of the company’s stock worth $1,265,000 after buying an additional 6,019 shares in the last quarter. BlackRock Group LTD raised its position in Universal Electronics by 5.2% in the second quarter. BlackRock Group LTD now owns 20,011 shares of the company’s stock worth $1,447,000 after buying an additional 987 shares in the last quarter. BlackRock Advisors LLC raised its position in Universal Electronics by 1.4% in the second quarter. BlackRock Advisors LLC now owns 6,858 shares of the company’s stock worth $496,000 after buying an additional 94 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Universal Electronics during the second quarter worth about $239,000. Finally, PineBridge Investments L.P. raised its position in Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock worth $132,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) opened at 59.75 on Friday. Universal Electronics Inc. has a 52 week low of $46.68 and a 52 week high of $80.42. The company has a market cap of $870.68 million, a P/E ratio of 33.16 and a beta of 1.80. The firm’s 50-day moving average price is $65.78 and its 200 day moving average price is $70.77.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. The firm earned $170.30 million during the quarter, compared to analysts’ expectations of $173.98 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, equities analysts predict that Universal Electronics Inc. will post $2.90 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research report on Thursday, October 6th. B. Riley restated a “buy” rating and set a $73.50 price objective on shares of Universal Electronics in a research report on Saturday, November 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Universal Electronics presently has a consensus rating of “Buy” and an average target price of $74.92.
In other Universal Electronics news, EVP Paul J. Bennett sold 44,512 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $65.19, for a total value of $2,901,737.28. Following the completion of the transaction, the executive vice president now owns 46,283 shares of the company’s stock, valued at approximately $3,017,188.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul J. Bennett sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $67.67, for a total value of $676,700.00. Following the completion of the transaction, the executive vice president now directly owns 19,583 shares of the company’s stock, valued at approximately $1,325,181.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock valued at $3,631,373. 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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