Universal Electronics Inc (NASDAQ:UEIC) Shares Acquired by State of Tennessee Treasury Department

State of Tennessee Treasury Department lifted its stake in shares of Universal Electronics Inc (NASDAQ:UEIC) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 14,097 shares of the technology company’s stock after purchasing an additional 1,023 shares during the quarter. State of Tennessee Treasury Department’s holdings in Universal Electronics were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cadence Capital Management LLC acquired a new stake in shares of Universal Electronics during the third quarter valued at $2,603,000. Rhumbline Advisers boosted its stake in shares of Universal Electronics by 2.9% during the third quarter. Rhumbline Advisers now owns 41,382 shares of the technology company’s stock valued at $2,106,000 after acquiring an additional 1,178 shares during the last quarter. Strs Ohio acquired a new stake in shares of Universal Electronics during the third quarter valued at $671,000. Everence Capital Management Inc. acquired a new stake in shares of Universal Electronics during the third quarter valued at $241,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Universal Electronics by 126.0% during the third quarter. State of Alaska Department of Revenue now owns 10,664 shares of the technology company’s stock valued at $542,000 after acquiring an additional 5,946 shares during the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:UEIC opened at $57.89 on Friday. The stock’s 50-day moving average price is $51.61 and its two-hundred day moving average price is $44.78. The company has a current ratio of 1.37, a quick ratio of 0.88 and a debt-to-equity ratio of 0.08. Universal Electronics Inc has a 12-month low of $23.29 and a 12-month high of $60.00. The firm has a market cap of $826.79 million, a price-to-earnings ratio of 68.11, a PEG ratio of 5.93 and a beta of 1.23.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.15. Universal Electronics had a negative return on equity of 5.52% and a negative net margin of 1.94%. The firm had revenue of $200.72 million for the quarter, compared to analyst estimates of $191.15 million. As a group, research analysts forecast that Universal Electronics Inc will post 0.67 earnings per share for the current fiscal year.

In other Universal Electronics news, Director Carl E. Vogel sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $45.54, for a total value of $569,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Cheung Hyen Chong sold 1,406 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $45.70, for a total value of $64,254.20. Following the completion of the sale, the executive vice president now directly owns 6,980 shares in the company, valued at $318,986. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,942 shares of company stock worth $907,116. 7.09% of the stock is owned by corporate insiders.

A number of analysts recently commented on the company. Zacks Investment Research lowered Universal Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. ValuEngine lowered Universal Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub raised Universal Electronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $50.00.

Universal Electronics Profile

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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

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