Eagle Asset Management Inc. Has $118.99 Million Position in Universal Electronics Inc (UEIC)

Eagle Asset Management Inc. reduced its stake in shares of Universal Electronics Inc (NASDAQ:UEIC) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,524,178 shares of the technology company’s stock after selling 170,744 shares during the period. Universal Electronics accounts for approximately 0.7% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 24th biggest position. Eagle Asset Management Inc. owned approximately 17.64% of Universal Electronics worth $118,989,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Universal Electronics by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 747,254 shares of the technology company’s stock worth $49,955,000 after purchasing an additional 23,964 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Universal Electronics by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock worth $37,854,000 after purchasing an additional 5,030 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Universal Electronics by 117.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 458,119 shares of the technology company’s stock worth $21,646,000 after purchasing an additional 247,853 shares during the last quarter. State Street Corp raised its position in Universal Electronics by 5.3% during the 2nd quarter. State Street Corp now owns 349,027 shares of the technology company’s stock worth $23,332,000 after purchasing an additional 17,564 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in Universal Electronics by 42.3% during the 3rd quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after purchasing an additional 81,091 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

In other news, COO Louis Sylvester Hughes sold 925 shares of Universal Electronics stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $53.58, for a total value of $49,561.50. Following the completion of the transaction, the chief operating officer now directly owns 1,502 shares of the company’s stock, valued at approximately $80,477.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Cheung Hyen Chong sold 11,550 shares of Universal Electronics stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.31, for a total value of $581,080.50. Following the completion of the transaction, the insider now directly owns 31,657 shares of the company’s stock, valued at $1,592,663.67. The disclosure for this sale can be found here. Company insiders own 5.94% of the company’s stock.

Universal Electronics Inc (NASDAQ UEIC) opened at $43.60 on Thursday. Universal Electronics Inc has a 12-month low of $41.95 and a 12-month high of $74.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.80. The firm has a market capitalization of $613.72, a PE ratio of 19.86, a PEG ratio of 0.76 and a beta of 1.50.

UEIC has been the subject of several analyst reports. B. Riley set a $77.00 target price on Universal Electronics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies lowered their price objective on Universal Electronics to $70.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Zacks Investment Research lowered Universal Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 9th. Finally, BidaskClub lowered Universal Electronics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 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 company currently has a consensus rating of “Hold” and a consensus target price of $72.75.

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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.

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

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