Lapides Asset Management LLC Raises Stock Position in Universal Electronics Inc (NASDAQ:UEIC)

Lapides Asset Management LLC increased its holdings in shares of Universal Electronics Inc (NASDAQ:UEIC) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,900 shares of the technology company’s stock after purchasing an additional 4,200 shares during the period. Universal Electronics makes up 1.8% of Lapides Asset Management LLC’s holdings, making the stock its 21st biggest position. Lapides Asset Management LLC owned approximately 0.49% of Universal Electronics worth $3,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC increased its holdings in Universal Electronics by 1.4% in the second quarter. Peregrine Capital Management LLC now owns 128,606 shares of the technology company’s stock valued at $6,021,000 after buying an additional 1,820 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new position in Universal Electronics in the second quarter valued at $234,000. Assenagon Asset Management S.A. purchased a new position in Universal Electronics in the second quarter valued at $1,703,000. SG Americas Securities LLC increased its holdings in Universal Electronics by 54.4% in the second quarter. SG Americas Securities LLC now owns 7,332 shares of the technology company’s stock valued at $343,000 after buying an additional 2,584 shares in the last quarter. Finally, State Street Corp increased its holdings in Universal Electronics by 11.4% in the first quarter. State Street Corp now owns 449,373 shares of the technology company’s stock valued at $17,242,000 after buying an additional 45,913 shares in the last quarter. 99.29% of the stock is owned by institutional investors.

UEIC has been the subject of a number of research reports. BidaskClub raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. B. Riley cut their target price on shares of Universal Electronics from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Zacks Investment Research cut shares of Universal Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 10th.

UEIC traded down $1.65 on Friday, reaching $46.07. 66,253 shares of the company’s stock were exchanged, compared to its average volume of 38,243. The stock has a market cap of $640.97 million, a PE ratio of 63.99, a P/E/G ratio of 1.25 and a beta of 1.21. Universal Electronics Inc has a twelve month low of $29.50 and a twelve month high of $60.00. The stock’s fifty day moving average price is $46.36 and its 200-day moving average price is $43.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.45 and a quick ratio of 0.87.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The business had revenue of $151.78 million for the quarter, compared to analyst estimates of $165.19 million. Universal Electronics had a return on equity of 3.93% and a net margin of 1.45%. As a group, research analysts predict that Universal Electronics Inc will post 2.45 earnings per share for the current fiscal year.

Universal Electronics Company 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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