Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Universal Electronics Inc. (NASDAQ:UEIC)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 25.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 82,570 shares of the technology company’s stock after acquiring an additional 16,591 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Universal Electronics were worth $908,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Barclays PLC lifted its position in shares of Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after acquiring an additional 4,591 shares during the period. Jane Street Group LLC acquired a new position in shares of Universal Electronics in the 3rd quarter valued at $163,000. SBI Securities Co. Ltd. acquired a new position in shares of Universal Electronics in the 4th quarter valued at $33,000. Finally, Empowered Funds LLC increased its holdings in shares of Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,144 shares during the period. Hedge funds and other institutional investors own 79.35% of the company’s stock.

Universal Electronics Stock Performance

Shares of UEIC opened at $6.44 on Friday. The stock has a market capitalization of $84.44 million, a P/E ratio of -3.48, a P/E/G ratio of 3.62 and a beta of 1.21. The company’s fifty day moving average is $8.91 and its two-hundred day moving average is $9.49. Universal Electronics Inc. has a 1 year low of $6.28 and a 1 year high of $14.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $110.45 million during the quarter, compared to analyst estimates of $102.47 million. Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. Sell-side analysts predict that Universal Electronics Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on UEIC shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Universal Electronics in a report on Friday, February 21st. StockNews.com cut shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.