Howland Capital Management LLC acquired a new stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,000 shares of the technology company’s stock, valued at approximately $824,000. Howland Capital Management LLC owned about 0.09% of Universal Electronics as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Suntrust Banks Inc. raised its stake in shares of Universal Electronics by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock valued at $527,000 after buying an additional 43 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Universal Electronics by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the technology company’s stock valued at $279,000 after purchasing an additional 69 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Universal Electronics by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 10,567 shares of the technology company’s stock valued at $706,000 after purchasing an additional 88 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Universal Electronics by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock valued at $741,000 after purchasing an additional 91 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Universal Electronics by 0.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.
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UEIC has been the subject of several recent analyst reports. Zacks Investment Research lowered Universal Electronics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub lowered Universal Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, B. Riley set a $77.00 price target on Universal Electronics and gave the company a “buy” rating in a research note on Tuesday. One 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. Universal Electronics presently has a consensus rating of “Hold” and a consensus target price of $74.50.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share.
In related news, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the completion of the transaction, the director now directly owns 35,726 shares of the company’s stock, valued at $2,154,635.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Mulligan purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average cost of $55.91 per share, with a total value of $279,550.00. Following the completion of the acquisition, the director now directly owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The disclosure for this purchase can be found here. Corporate insiders own 5.82% of the company’s stock.
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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