Ingalls & Snyder LLC Holds Position in Universal Electronics Inc. (NASDAQ:UEIC)

Ingalls & Snyder LLC continued to hold its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,900 shares of the technology company’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in Universal Electronics were worth $328,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position 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 valued at $108,000 after buying an additional 20 shares during the period. Victory Capital Management Inc. increased its position 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 valued at $114,000 after buying an additional 321 shares during the period. First Mercantile Trust Co. increased its position 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 valued at $175,000 after buying an additional 183 shares during the period. Mason Street Advisors LLC increased its position 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 valued at $232,000 after buying an additional 200 shares during the period. Finally, Invictus RG bought a new position in shares of Universal Electronics during the first quarter valued at about $236,000. Institutional investors own 94.57% of the company’s stock.

Universal Electronics Inc. (UEIC) traded up 0.35% during midday trading on Friday, reaching $56.80. 101,973 shares of the company’s stock traded hands. The firm’s 50-day moving average is $65.26 and its 200 day moving average is $66.12. Universal Electronics Inc. has a 52-week low of $52.90 and a 52-week high of $77.97. The firm has a market cap of $817.98 million, a PE ratio of 52.54 and a beta of 1.65.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The firm had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Universal Electronics Inc. will post $3.14 earnings per share for the current fiscal year.

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Several brokerages recently weighed in on UEIC. BidaskClub cut shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. B. Riley reaffirmed a “buy” rating and set a $77.25 price target on shares of Universal Electronics in a research report on Friday, May 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $77.00 price target on shares of Universal Electronics in a research report on Monday, May 15th. Zacks Investment Research cut shares of Universal Electronics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 24th. Finally, Lake Street Capital cut shares of Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Universal Electronics presently has a consensus 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.

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

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