Millennium Management LLC Raises Stake in Universal Electronics Inc (UEIC)

Millennium Management LLC lifted its stake in shares of Universal Electronics Inc (NASDAQ:UEIC) by 212.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,341 shares of the technology company’s stock after acquiring an additional 81,193 shares during the period. Millennium Management LLC owned approximately 0.86% of Universal Electronics worth $3,017,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Universal Electronics by 2.4% during the fourth quarter. BlackRock Inc. now owns 2,055,467 shares of the technology company’s stock worth $51,963,000 after acquiring an additional 47,347 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Universal Electronics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 909,272 shares of the technology company’s stock worth $22,986,000 after acquiring an additional 22,427 shares in the last quarter. Vanguard Group Inc increased its position in shares of Universal Electronics by 12.5% during the third quarter. Vanguard Group Inc now owns 825,686 shares of the technology company’s stock worth $32,490,000 after acquiring an additional 91,535 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Universal Electronics by 12.5% during the third quarter. Vanguard Group Inc. now owns 825,686 shares of the technology company’s stock worth $32,490,000 after acquiring an additional 91,535 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its position in shares of Universal Electronics by 2.4% during the fourth quarter. Investment Counselors of Maryland LLC now owns 372,690 shares of the technology company’s stock worth $9,422,000 after acquiring an additional 8,900 shares in the last quarter.

In other news, SVP Richard A. Firehammer, Jr. sold 1,011 shares of Universal Electronics stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $33.61, for a total value of $33,979.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Cheung Hyen Chong sold 2,000 shares of Universal Electronics stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $31.88, for a total transaction of $63,760.00. The disclosure for this sale can be found here. 5.97% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. BidaskClub raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Zacks Investment Research raised shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a research report on Friday, January 11th. Sidoti set a $49.00 target price on shares of Universal Electronics and gave the company a “buy” rating in a research report on Friday, February 22nd. Finally, B. Riley set a $42.00 target price on shares of Universal Electronics and gave the company a “buy” rating in a research report on Friday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.33.

Universal Electronics stock opened at $37.69 on Friday. The firm has a market capitalization of $521.74 million, a P/E ratio of 44.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.60. Universal Electronics Inc has a 1-year low of $23.29 and a 1-year high of $50.60. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.03.

Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, February 21st. The technology company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The business had revenue of $170.30 million during the quarter, compared to the consensus estimate of $184.01 million. Universal Electronics had a net margin of 1.75% and a return on equity of 4.43%. On average, research analysts anticipate that Universal Electronics Inc will post 1.2 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thelincolnianonline.com/2019/04/21/millennium-management-llc-raises-stake-in-universal-electronics-inc-ueic.html.

About Universal Electronics

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.

Featured Article: How Do Front-End Loads Impact an Investment?

Want to see what other hedge funds are holding UEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Electronics Inc (NASDAQ:UEIC).

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

Receive News & Ratings for Universal Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics and related companies with MarketBeat.com's FREE daily email newsletter.