Victory Capital Management Inc. Has $638,000 Stake in Universal Electronics Inc. (NASDAQ:UEIC)

Victory Capital Management Inc. raised its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 8.0% in the fourth quarter, Holdings Channel reports. The fund owned 58,000 shares of the technology company’s stock after buying an additional 4,297 shares during the quarter. Victory Capital Management Inc.’s holdings in Universal Electronics were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC lifted its stake in Universal Electronics by 4.7% during the fourth quarter. Empowered Funds LLC now owns 45,014 shares of the technology company’s stock worth $495,000 after purchasing an additional 2,034 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Universal Electronics during the fourth quarter worth approximately $33,000. JPMorgan Chase & Co. increased its holdings in shares of Universal Electronics by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after buying an additional 4,591 shares in the last quarter. Barclays PLC increased its holdings in shares of Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Universal Electronics by 15.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after buying an additional 8,706 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UEIC. StockNews.com lowered shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Universal Electronics in a report on Friday, February 21st.

Universal Electronics Trading Down 2.4 %

Shares of UEIC opened at $6.44 on Friday. Universal Electronics Inc. has a 1 year low of $6.28 and a 1 year high of $14.20. The stock has a market cap of $84.44 million, a P/E ratio of -3.48, a price-to-earnings-growth ratio of 3.62 and a beta of 1.21. The stock’s 50-day moving average price is $8.91 and its two-hundred day moving average price is $9.49.

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

Universal Electronics Profile

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.