Vanguard Group Inc. boosted its position in Universal Electronics Inc. (NASDAQ:UEIC) by 5.6% during the first quarter, Holdings Channel reports. The fund owned 723,290 shares of the technology company’s stock after buying an additional 38,395 shares during the period. Vanguard Group Inc. owned approximately 0.05% of Universal Electronics worth $49,546,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of 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. Victory Capital Management Inc. raised its stake in shares of Universal Electronics by 23.8% in the first 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. First Mercantile Trust Co. raised its stake in shares of 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 raised its stake in shares of 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 raised 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 valued at $257,000 after buying an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.

Universal Electronics Inc. (UEIC) opened at 60.30 on Thursday. Universal Electronics Inc. has a 52-week low of $52.90 and a 52-week high of $80.42. The stock’s 50 day moving average price is $66.99 and its 200 day moving average price is $66.38. The firm has a market capitalization of $868.26 million, a price-to-earnings ratio of 55.78 and a beta of 1.65.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. 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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UEIC has been the subject of several analyst reports. Zacks Investment Research lowered Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. B. Riley restated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a research report on Friday, May 5th. Lake Street Capital lowered Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research report on Friday, May 5th. Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Universal Electronics in a research report on Friday, May 5th. Finally, BidaskClub upgraded Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $74.06.

About Universal Electronics

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

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